Small deposit mortgages up
MORTGAGE lending for borrowers with smaller deposits is rebounding.
Higher loan-to-value (LTV) lending made up 16.9 per cent of house purchase approvals in February – the largest proportion since September, figures from chartered surveyors E.surv show today. “Lending to lower-deposit borrowers is back on track,” said Richard Sexton, director of e.surv.
“Higher LTV borrowers took a nosedive in October, after the introduction of loan-to-income cap.”