Increase in the number of 90 per cent mortgages for purchasers

By Lauren Burns

New figures from the Bank of England suggest that there has been an increase in the availability of mortgages worth more than 90 per cent of the property value for the first time in 9 months.

The mortgage market is considered to be reacting to increased competition for mortgages and a decline in new applications - mortgage demand is said to have fallen during the last three consecutive quarters. With a separate survey by Halifax revealing that raising a deposit is considered to be the biggest barrier to purchasing a property, the Banks are having to look to high loan-to-value products in order to get new mortgages on the books.

If you are buying a house in Northern Ireland, or selling or remortgaging your existing home, and want to speak to a property conveyancing solicitor about the legal process and costs involved, contact Wilson Nesbitt in Belfast by calling 0800 840 9290.

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