Price fears see fewer mortgage deals

First-time buyers may face challenges as they look to enter the reopened property market, with banks offering fewer mortgages for those with smaller deposits amid fears house prices could collapse. Analysts from Deutsche Bank have warned that house prices could fall by more than a fifth, while Lloyds Bank has predicted that prices could fall 30% in the next three years in a worst case scenario. A report issued by Moneyfacts shows that just 30 different mortgages are available to borrowers with a 5% deposit, down from 393 before the pandemic closed the property market.

The Daily Telegraph (19/05/2020)