88% rise in number of 90%+ LTV deals over past 12 months

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MoneyExpert.com claims that there has been an almost doubling of the number of lenders offering 90% LTV or above products over the past year.

Its analysis shows there are 147 fixed-rate products available for those wishing to borrow 90% or more of the value of their property. This represents an 88% increase on the 78 products available this time last year.

The fixed-rate mortgage market as a whole has expanded considerably, by around 46% in terms of products available, since February last year but these latest figures suggest a growing inclination towards higher LTV lending. The average LTV on a fixed-rate mortgage is now 76.8%, up from 75.7% 12 months ago.

Borrowers looking for a high LTV on a variable rate mortgage will have fewer options. The number of variable products available has tripled since this time last year, but the number of high LTV products (those with an LTV above 90%) has shown just a modest increase from 43 in 2009 to 51 now.

Pierre Williams, head of research for MoneyExpert.com, said it was good news for those looking to borrow a sizeable percentage of the value of their home. He added: “Lenders have been risk averse in the past year and have shied away from high LTVs. Measured optimism over the housing market

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