England's first-time buyers with 10% deposit struggle to find mortgage

Mortgage lenders have been busy pulling home loan deals catering for those homebuyers looking to borrow 90% or more of the property’s value, with some saying they simply could not cope with the unprecedented demand. There was a bit of good news: Bank of Ireland has returned to 90% lending via its semi-exclusive Bespoke range, while Coventry building society was on Friday due to re-enter this market in a much-needed boost to the sector, said Nick Morrey, the product technical manager at the mortgage broker John Charcol. This means that on Monday 15 June he is only realistically expecting HSBC and a small handful of other providers to be offering something to people needing a mortgage with only a 10% deposit.