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Borrowers with large deposits take greater share of market – E.surv

  • 21/08/2018
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Borrowers with large deposits take greater share of market – E.surv
Borrowers with a deposit of 40% or more are claiming a larger chunk of the market, as the proportion of high loan-to-value (LTV) mortgages shrinks, according to data.  


Around a third of mortgages were at 60% LTV in July, an increase from the previous month, E.surv data showed.

At the same time, small deposit borrowers fell to 22.1% of mortgages down from 23.4% in June.

London had the greatest number of large deposit borrowers in July, with more than 40% of mortgages at 60% LTV or lower.

Just 11% of mortgages in the capital went to those with a small deposit, with the rest of the loans being taken by mid-market borrowers.

Northern Ireland had the largest percentage of mortgages at a high LTV, with around a third of loans going to these borrowers.

It was a similar story in Yorkshire, with 32% using a small deposit, the data showed.

However, the North West was the only region to see more loans go to those with a small deposit rather than a large deposit.

Richard Sexton, director at e.surv (pictured), said: “Those with more cash to splash took a bigger share of the mortgage market this month, yet there are still great opportunities for small deposit borrowers to get onto the ladder.

“Low rates continue to tempt new borrowers into the market.

“The London market is once again dominated by those with large deposits or high levels of equity in their existing home, while the North West has more first-time buyers and small deposit borrowers.

“In general, those areas closest to London require more sizeable deposits for borrowers to get onto the ladder while northern areas often see a greater number of first-time buyers.”

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