Mortgage market news from The Legal & General Mortgage Service The number of mortgage products available last month exceeded 10,000 for the first time since the start of the downturn, according to the latest National Mortgage Index. The typical homebuyer borrowed £159,391 in July, up by 6% since the start of the year. Meanwhile, the average LTV for a typical purchase LTV dropped to 70.2%, highlighting the recent market shift to emphasise affordability and responsible borrowing. With the increasing number of mortgage products available, coupled with Government Schemes such as Help to Buy, many consumers are turning to independent advisers for help on what products best suit their needs. Due to this, for the first time in ten years, more borrowers are securing mortgages through intermediaries than going directly to their banks.
Posted on: Tue, 01 Oct 2013 08:56:47 +0000
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