Mortgages  

Higher LTV mortgages buck rate trend

Clayton Shipton, managing director at CLS Money, said although products have dipped in the past few months due to lenders being unable to value properties at higher LTVs, he hoped there would be a “big jump in products coming back to the market” when valuers are able to return to work.

Residential mortgage market analysis

Product numbers

Mar-20

May-20

Difference

Product count (all fixed and all variable, all LTVs)

5,222

2,566

-2,656

Two-year fixed rate (75% LTV)

291

201

-90

Two-year fixed rate (90% LTV)

294

24

-270

Two-year fixed rate (95% LTV)

137

11

-126

Five-year fixed rate (75% LTV)

293

196

-97

Five-year fixed rate (90% LTV)

269

26

-243

Five-year fixed rate (95% LTV)

142

11

-131

Average rates

Mar-20

May-20

Difference

Two-year fixed rate (all LTV’s)

2.43%

2.09%

-0.34%

Two-year fixed rate (75% LTV)

2.29%

1.97%

-0.32%

Two-year fixed rate (90% LTV)

2.57%

2.40%

-0.17%

Two-year fixed rate (95% LTV)

3.26%

3.36%

0.10%

Five-year fixed rate (all LTV's)

2.74%

2.35%

-0.39%

Five-year fixed rate (75% LTV)

2.56%

2.20%

-0.36%

Five-year fixed rate (90% LTV)

2.91%

2.65%

-0.26%

Five-year fixed rate (95% LTV)

3.58%

3.62%

0.04%

Source: Moneyfacts Treasury Reports. Data correct as at 1st day of the month

chloe.cheung@ft.com