Mortgage market returning to normal

Homeowners investing in a bespoke conservatory in order to increase their property's value and appeal to buyers may be interested in the latest statement from Moneyfacts.

The organisation has revealed that the availability of lower deposit mortgages has almost doubled in the last year - which could increase the likelihood of first-time buyers being able to access the market.

Figures show a 90 per cent annual rise in mortgage deals requiring a deposit of between ten and 15 per cent.

At the beginning of the month, there were 1,798 deals offering between 100 and 60 per cent loan-to-value.

This represents a six per cent rise on February 2010 and 68 per cent increase on March 2009 figures.

What Mortgage editor Ben Wilkie suggested that the tendency towards offering higher LTV deals could be a good sign that the market is returning to normal.

"I think there's a bit more confidence in the market - the housing market seems to be back on a slightly more even keel [and] there's bit more confidence to mortgage companies," he said.

Posted by Paul Steel