Mortgage market encouraging, says moneysupermarket.com

Date:Tuesday 9th November 2010
Author: Max Freedman

First-time buyers can take some encouragement from the state of the mortgage market, according to a source from moneysupermarket.com.

Clare Francis, site editor at the company, stressed that the best deals are still only available to people with the largest deposits.

However, she added: "It's encouraging to see the number of mortgages available for those with reasonably small deposits increasing."

Her comments were made after moneysupermarket.com research showed there has been a 22 per cent rise in the quantity of home finance deals available to people aiming to take the first step on to the property ladder.

Ms Francis described first-time buyers as "integral" to the mortgage market and called for lenders to offer more affordable arrangements at up to 90 per cent loan to value.

This week, Unbiased.co.uk chief executive Karen Barrett urged applicants to seek advice before signing up for a mortgage, since it will help them to understand the options open to them.