In comparison, 90% LTV mortgages have fallen from 894 to 292 over the same period.
The table below shows the number of products available from October 2007 and includes the number of products the month before the Funding for Lending Scheme was launched to today.
| Month | Oct-07 | Oct-08 | Oct-09 | Oct-10 | Oct-11 | Jul-12 | Aug-12 | Sep-12 | Oct-12 |
| 60% LTV | 21 | 96 | 320 | 247 | 369 | 389 | 471 | 475 | 476 |
| 90% LTV | 894 | 450 | 101 | 206 | 256 | 263 | 254 | 269 | 292 |
Sylvia Waycot, of Moneyfacts.co.uk, comments:
“In 2007 lenders offered high loan-to-values as a norm. High income multiples and sub prime were not automatically rejected.
“This all changed in 2008 with the onset of the banking crisis. High loan-to-values quickly disappeared and even today are few and far between.
“They were predominately replaced with the 60% loan-to-value which is virtually riskless to any lender.
“As a result, the first-time buyer market has stagnated and in a desperate attempt to kick start it again, the Government introduced its Funding for Lending Scheme.
“Sadly, it did not specify that the lending should be for higher loan-to-values or aimed at the troubled FTB market.”
“What has resulted is a plethora of mortgages at 60% loan-to-value, meaning more lending to those who already have excess choice whilst everyone else it would seem, may as well be whistling in the wind.”
