Small deposit mortgages up

Chris Papadopoullos
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MORTGAGE lending for borrowers with smaller deposits is rebounding.

Higher loan-to-value (LTV) lending made up 16.9 per cent of house purchase approvals in February – the largest proportion since September, figures from chartered surveyors E.surv show today. “Lending to lower-deposit borrowers is back on track,” said Richard Sexton, director of e.surv.

“Higher LTV borrowers took a nose­dive in October, after the intro­duction of loan-to-income cap.”