Homebuyers with deposits as low as 5% now have a choice of 405 different ...

Homebuyers with deposits as low as 5% now have a choice of 405 different mortgages, research reveals Research by Moneyfacts revealed the shocking rise in mortgage deal numbers A decade ago there were only three deals available on the market It suggests banks are desperate to attract first-time buyers with little money

By James Burton Chief City Correspondent For The Daily Mail

Published: 01:33 BST, 20 April 2019 | Updated: 01:33 BST, 20 April 2019

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People struggling to get a foot on the property ladder are being targeted in a low-deposit mortgage boom.

Homebuyers who only have a five per cent deposit now have a choice of 405 different mortgages, according to research.

A decade ago just three deals were available. Average interest rates for these riskier borrowers have also come down sharply. 

It suggests the banks are desperate to attract first-time buyers with little money stashed away.

Research by Moneyfacts found there were 405 different mortgage deals now available whereas only a decade ago there were just three

Research by Moneyfacts found there were 405 different mortgage deals now available whereas only a decade ago there were just three

But low-deposit lending leaves customers vulnerable if there is a

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