However, this month the number of products at 90% loan-to-value has increased to the highest point since April 2008, when the number of deals stood at 708. The number of products at 95% LTV also saw a boost, reaching an eight-month high. The Bank of England is keen to ensure that providers keep to business as usual, and after the initial shock to markets following the vote on 23 June it appears that the higher loan-to-value market is doing even better than usual. This shows how quickly institutions can now react and adapt to changes in the market.

This is mainly due to the amount of competition there is in the market. Providers are now finding that the traditional ‘less risky’ areas of 60% LTV are being swamped with deals and they need to diversify into new sectors to attract borrowers.

The Help to Buy Mortgage Guarantee Scheme made it acceptable to lend at the higher loan-to-values again after the financial crisis. However, with the scheme ending next month, it is hoped that the removal of this crutch won’t cause this fundamental part of a healthy mortgage market to collapse.