LTV mortgage market 'getting slightly easier'

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LTV mortgage market 'getting slightly easier'

The loan-to-value (LTV) mortgage market has become a bit more accessible for house buyers in recent months, one expert has suggested.

Senior technical manager at John Charcol Ray Boulger said that while it is "still very difficult" for those seeking a 90 per cent LTV, competition has improved for 80 to 85 per cent products.

"People who are looking for higher loan-to-value [mortgages] will be finding it a little bit easier compared to a few months ago," he remarked.

Difficulties persist at the 90 per cent level due to the lack of mortgages available, Mr Boulger explained. While some house seekers with a ten per cent deposit may be able to find a product that fits, they generally have high interest rates.

The comments were made following the publication of new figures from the British Bankers' Association, which revealed an increase in the number of new mortgage approvals for house purchases between February and March.

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