SPF Private Clients chief executive Mark Harris says: ”More first-time buyers are returning to the market, with a small increase in those borrowing more than 90 per cent LTV. With the Help to Buy scheme guaranteeing loans for buyers with modest deposits, we expect this trend to continue."
"While George Osborne has stated that high loan-to-value mortgages are not ‘exotic weapons of mass destruction’, borrowers must still ensure that they can afford a high LTV mortgage before taking the plunge.”
The proportion of total lending above 90 per cent loan-to-value was 2.5 per cent, while the proportion of lending above 95 per cent LTV was 0.5 per cent. A year ago, total lending above 90 per cent LTV was 2.1 per cent. The number of new loans in arrears in the second quarter totalled 32,520 in the second quarter, down from 34,456 a year earlier, while the total number of accounts in arrears fell from 296,484 to 292,181 over the same period.
As experienced IFA’s at Enable we will help you find the right mortgage for you.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE.
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