There has been a significant rise in the number of buyers securing high loan-to-value mortgages in recent months, according to chartered surveying firm e.surv.
Higher LTV house purchase approvals - defined by e.surv as borrowers with a deposit of up to 15 per cent of the total value of their property - made up 16.9 per cent of approvals in February.
That is up from 15.3 per cent in January and just 13.9 per cent in December.
Higher LTV approvals now form the largest proportion of total house purchase lending since September 2014.
There were 10,298 higher LTV loans in February, up from 9,300 in January. The rise was partly driven by increasing property prices.
Across the whole market, total house purchase approvals grew for the third consecutive month, as lending stabilised.
House purchase approvals grew 0.2 per cent month-on-month in February, with 60,935 approvals, compared to 60,786 in January and 60,349 in December. This improvement comes after a series of drops stretching from July to November 2014.
e-surv says this suggests the market is settling back into sustainable growth.
%20(002).png)
Comments
Hold onto your hats here we go again!