The amount of mortgage products on the market for first-time buyers has trebled in thelast two years, a report suggests.
According to financial information group Moneyfacts, there are now 183 different mortgages for first-time buyers out there – up from 62 in June 2009.
Moneyfacts spokesperson Louise Holmes said: 'Higher loan-to-value mortgages have made a return to the market over recent months, suggesting lenders are taking positive steps to help the first-time buyer market. These positive figures should offer some hope to those who dream of owning their own home.'
But while the amount of mortgages on offer has increased, this doesn't mean banks are prepared to lend more money. Figures from the Council of Mortgage Lenders show that in March, the last month that data is available for, the average deposit for a house was 21%