Just ten lenders offering 90% deals

Research from Mform has found that just ten lenders are currently offering mortgages up to 90% loan-to-value (LTV) - with Royal Bank of Scotland the only lender part-owned by the Government to do so.

This comes despite Government pleas to lenders to offer deals to those with smaller deposits. The firm said there are just 12 products up to 90% LTV open to borrowers looking for two-year deals and 23 products from nine lenders open to those looking for five-year deals. The rates range from 4.99% to 6.64%.

Just one lender - Ipswich Building Society - is willing to lend at 95% LTV and only to those who have been customers for at least six months.

In contrast, in April 2008 - around eight months into the credit crunch - there were 41 lenders offering 405 deals at 95%, accoring the firm's figures.

"It is incredible to remember that in April last year there were still plenty of 95% mortgages around," explains Francis Ghiloni, marketing and business development director of Mform

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