View more on these topics

Average LTV at highest level in three years

The average loan-to-value has reached its highest level since April 2008, according to surveyors e.surv.

It is now 60.8 per cent, a sixth consecutive monthly increase, and is up from 56.2 per cent in March 2010.

The surveyor says the volume of approvals in the 75 per cent to 85 per cent LTV bracket grew by twice the rate of the overall market since October, while the 85 per cent 90 per cent bracket has grown by a third faster than the overall market.

Mortgage approvals rose by 4.3 per cent in March, rising from 46,967 in February to 48,979. It is the third consecutive month of growth.

E.surv business development director Richard Sexton says: “More people are getting higher LTV mortgage loans, and approvals on cheaper properties have increased, which is a sure indication that more first-time buyers are finally getting onto the housing ladder.

“Rents have reached record levels and with higher LTV products available for the best borrowers, it is no wonder more first-timers are grasping the nettle while rates are still cheap.”

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com