Refinancing Home Mortgage
In: Mortgage Lenders
8 Jan 2010
Once the lifeblood of the property market, first-time buyers are now seemingly being ignored by lenders in favour of low-risk borrowers, according to a Moneyfacts spokesperson. The average 90 per cent loan-to-value mortgage has fallen just 0.12 per cent over the last two years. That’s despite the cost of funding to lenders falling by 4.35 per cent. So borrowers with a ten per cent deposit taking out a new two-year deal on a £150000 mortgage will only see their monthly repayment fall £11 from …
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