Mortgage requirements easing

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  • | by Kristian Dando

There has been some rare cheer for potential first-time home buyers, with lenders appearing to ease the demands to acquire a mortgage.

At the beginning of January, the proportion of mortgages which required a deposit of 25 per cent or more dipped below 50 per cent for the first time since 2008.

Lenders remain adamant that they are still facing restrictions on lending, according to research carried out by Moneyfacts.

With a dip in property prices, there remains a reluctance for homeowners to sell according to separate research from Lloyds, leaving the market relatively stagnant.