First-time buyers’ hopes of getting on to the property ladder have been boosted as banks have started to relaunch 90% mortgages. Moneyfacts analysis shows that the number of 90% loans available fell from 779 in March to 56 at the start of November but with smaller lenders testing the water in recent weeks, larger lenders including TSB and Yorkshire Building Society have started to expand their offerings, with 80 deals requiring a 10% deposit now available. Mark Harris of mortgage broker SPF Private Clients said Accord Mortgages, Atom Bank, Bank of Ireland, TSB and Yorkshire Building Society had all launched 90% loans in recent days. He added: “However, the lack of availability means borrowers have seen small deposit rates rise … A year ago, 90% two-year fixes were available with rates below 2% but now the equivalent loans cost well over 3%.”

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