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Number of 90% LTV mortgages up since June

By Jonathan Dawes, Tue 19 Jul 2011 - Published in Mortgages

The number of mortgages available for UK first-time buyers with a ten per cent deposit are at their highest level since November 2008.

This is according to research from moneysupermarket.com, which revealed that there are now 312 mortgage products at 90 per cent loan-to-value (LTV) available for Brits, which is an increase of 17 per cent since June.

Its report highlighted that this is the first time since the last quarter of 2008 that there has been over 300 of these mortgage products available for first-time buyers.

Clare Francis, spokesperson for moneysupermarket.com, said: "It's been so difficult to get a mortgage unless you've had a deposit of 25 per cent or more. It's therefore encouraging to see an increase in the number of 90 and 95 per cent mortgages available."

Recently, research by Defaqto revealed that nearly 9,000 mortgage products have been launched or updated between April 1st and the end of June this year.