High loan-to-value mortgage lending rises 80% year-on-year in October

by Aaron Strutt

Nov 15 2013

Lending to high loan-to-value borrowers has increased 80% year-on-year in October, according to the latest Mortgage Monitor from e.surv chartered surveyors.

There were 9,176 loans to borrowers with a 15% deposit or smaller in October compared with nearly 5,100 in October 2012. Their figures show that the sustained recovery in lending has been driven further forward by the increasing number of loans that are being approved to buyers with smaller deposits.

Richard Sexton, director of e.surv, explains: "Up until now, the recovery of the mortgage market has been focused in London and the South East, where the economic climate is picking up the fastest. Repossessions are falling more quickly in the South, with the bulk of lending still to buyers who can afford larger deposits and access lower rates."

November 15, 2013