The number of mortgage applications being made with less than a 15% deposit was at its highest level all year in August, according to new figures from haart Financial Services.
Almost one in five mortgage applications from hopeful borrowers processed last month by haart asked for a loan above 85%. This compares with just over one in ten at the start of this year.
David Miles, managing director of haart Financial Services, said: “Whilst the general availability of mortgages is certainly improving from where we were a year ago, we are noticing a much greater availability of LTV mortgages over 85%, which is great news for those people who are struggling to find the funding necessary for their deposit.”
However, haart would not be drawn on how many of its mortgage applicants seeking high LTV mortgages would be, or have been, successful.
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