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Mortgage loans may require larger deposits

08/04/2009


Latest news for mortgage borrowers suggests that many mortgage loan lenders require a mortgage deposit of 25 per cent. The figures as of April 6th illustrate 68 per cent of the mortgage deals out in the market require this level of initial deposit.


In contrasts their may be possible signs that the mortgage market is starting make a slow recovery with figures showing an increase in the number of mortgages available, including those mortgage products where the loan to value is 15 per cent.


According to a representative of London and County Mortgages it was commented that “The increase in deals with a 15 per cent deposit could be due to lenders reducing the number of, or withdrawing altogether from, deals with a ten per cent deposit”.


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