First-time buyers have had a rough deal during the pandemic – first as mortgage deals for buyers with smaller deposits all but disappeared from the market, and later as surging buyer demand pushed up property prices.

Now, however, first-time buyers can see the first glimmer of hope on the horizon, with the number of 90% LTV mortgages – for buyers with a 10% deposit – almost doubling between 1 December 2020 (88) and 1 January 2021 (160).

While this number remains far below the number of 90% LTV products available in March (779), the figures are now at least going in the right direction.

Overall, product choice is on the up across the board, with products for those able to offer a 15% deposit also rising sharply.

Your home may be repossessed if you do not keep up repayments on your mortgage

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Mortgage lending has soared to record levels, according to latest data from the Bank of England1, which reveals that gross advances in Q1 totalled £83.3bn, which represents a 26.5% increase on the same quarter in 2020 and the highest level since Q4 2007. Impact of the...

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(Your home may be repossessed if you do not keep up repayments on your mortgage)

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South Coast Mortgage Services Ltd is an Appointed Representative of Stonebridge Mortgage Solutions Ltd, which is authorised and regulated by the Financial Conduct Authority. Registered Office: 59 The Avenue, Southampton, Hampshire, SO17 1XS. Registered Company Number: 08414746 Registered in England & Wales.