Low deposit mortgages returning to market

Low deposit mortgages returning to market

The proportion of all mortgages which require a deposit of 10% or less has reached its highest level since 2008, Bank of England figures show.

The share of mortgages in this category increased to 5.9% in the third quarter of the year, the Bank said.

The proportion is still much smaller than before the financial crisis when mortgages were handed out to some people without the need for a deposit at all.

Since then regulation of the sector has been tightened up, with applicants having to pass stricter affordability requirements.

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