Low LTV Deals Bounce Back
The recession may have created a division between cash investors with money to invest and first time buyers, but recent improvements to the number of mortgage products available is already proving that 2010 could be the year that first time buyers make a come back…
In the last 2 months, lending UK lenders have increased the amount of 85% LTV and 90% LTV deals they have got available as well have reduced the size of their interest rates.
During their research moneysupermarket.com discovered:
• 85% LTV’s had increased by 22% bringing their total number of products to 384
• 90% LTV’s had increased 11% bringing their product totals up to 165
This combined with the fact that interest rates are falling across the board, and now truly is the best time to invest in property.
Continuing in their research, moneysupermarket.com found that 80% LTV’s have witnessed interest rate drops of 0.77% bringing them down to 4.97% on average, whilst 95% LTV’s have dropped by 0.71% despite only offering 9 products.
And this is great news for first time buyers who over the last 18 months have struggled to find 25%-40% deposits and get on the property investment ladder. With more and more 85% LTV and 90% LTV products appearing on the property market, 2010 shall prove to be an interesting year for property investment.
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- EXCLUSIVE: New Buy To Let Deals
- Northern Rock Bounces Back!
Tags: first time buyers, invest in property, property investors, property ladder, property market, recession
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