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Boom in 100 per cent plus LTV mortgages predicted

Mortgage brokers are predicting a sharp increase in the number of mortgages with a loan to value (LTV) ratio of 100 per cent or more.According to research by Alliance & Leicester Mortgages, more than three quarters (78 per cent) of brokers are predicting a rise in 100 per cent plus LTV mortgages over the next two years. Jeremy Claridge, head of specialist mortgages at Alliance & Leicester, said: "With increasing house prices and rising interest rates, homebuyers and remortgagers will be looking for affordable ways to get a mortgage."The mortgage market is continually changing and there is an ever growing need to find more flexible products to allow people to get on the housing ladder or to manage their existing borrowings in a better and more efficient way." An increasing number of lenders are offering LTV mortgages, which combine a mortgage with an unsecured personal loan, as this kind of product becomes more mainstream, in the face of economic changes which mean people often have no deposit when they embark on buying a house.

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