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