In a report published today the businesses revealed how there had been a ‘notable’ increase in products in the 85% to 90% loan-to-value (LTV) category.

The first edition of the new monthly Online Mortgage Search and Competition index also revealed five-year remortgage fixed rates below 60% LTV and at 65% to 75% LTV saw the fiercest competition in the market.

And five-year fixes in general demonstrated the fastest growth between October 2020 and January 2021 as borrowers sought the safety of longer-term fixes during these uncertain times.

Indeed, Dave Miller, Iress’ executive general manager, said: “We’re clearly seeing a response to continued uncertainty in the market, with consumers keen to lock in rates for a longer period.”

But the data showed supply in the 90% and over LTV space remained limited despite strong recovery in the 85% to 90% LTV remortgage space, with competitiveness increasing by 8% as lenders re-entered this market.

Miller added: “We’re also seeing that lenders are beginning to show signs of willingness to lend at higher LTVs. It’s our intention that lenders be able to use this data to inform their lending strategies to navigate the current environment and facilitate the eventual return to improved lending conditions.”

Seb McDermott, chief executive officer of Koodoo, said: “In a rapidly changing mortgage market, access to real time customer data is vital. The Koodoo analytics platform helps lenders make sense of this data to serve their customers better and we are delighted to be working with Iress to do that.”