The proportion of new mortgage deals requiring at least a 25% deposit has risen over the past month, climbing from 54% to 60%, according to the latest research from Moneyfacts.
The information service provider said 25% of all deals currently on offer now require a 40% deposit. Its research revealed there are now just 21 mortgages available with a deposit of 5% or less, compared with more than 1,200 at the beginning of last February. The number of deals that need a minimum 40% deposit has risen from just 24 to 341. Moneyfacts also revealed the number of deals at 85% loan-to-value (LTV) has risen from 209 to 227 over the last month. "I think that LTV will be a key issue for this year, especially in light of the expected falls in house prices," says David Holling...
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