Mortgage boost for FTBs

First time buyers should be finding it easier to secure a mortgage after new research from Moneyfacts Group revealed lenders have been progressively relaxing their lending criteria. The number of mortgage deals available to borrowers with up to a 10% deposit has almost doubled since reaching a low of 84 in May last year to stand at 153 today. The move is a sign that lenders are becoming increasingly comfortable with the conditions and margins of risk inherent in the mortgage market. The appetite to lend at riskier levels has also coincided with a steady rise in property prices. According to the latest data from the Halifax, the average house price in the UK has increased by more £10K since last May.