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Average LTV rates hit two-year low’s mortgage index reveals the average LTV rate has hit a two-year low, along with the actual number of mortgage loans available.

The index shows that lending to first-time buyers with deposits of 5% is practically non-existent. 

While supply of borrowing for first-timers with 10% cash to put down, has decreased 84% compared to the same time last year, and only 36% of ready customers looking to climb on the ladder with a 15% deposit, are finding the door open compared with Q1 2008.
The average LTV for first-time buyers is 71% compared to 82% last year.
Richard Mason a mortgage expert at, says: “It’s a catch 22 for first-time buyers, the depressed market means there are bargains to be had but it’s difficult to get on the ladder without a good deposit. 

“Although there are loans available, on the whole lenders are being very prudent.  We need to see some movement here in order to get the housing market moving again.  Without plenty of competitive mortgages to choose from things will become even more stagnant.”
The statistics show a similar story for people looking to remortgage with the average LTV being granted is 69% compared with 82% at the same time last year.
At the beginning of March the housing index shows all mortgage lending was at a two year low but by the end of the month there was a 13% increase.  


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