The current word on the street is that it is quite a challenge to even be considered for a mortgage loan.  This is especially true if you happen to be a first time buyer.  This may be the case for many who have actually gone through exercise of obtaining a loan.  There is a possibility though, things are beginning to change.  Figures from one website, lovemoney.com, paint a picture which shows how lenders are loosening up the reigns on some mortgage loans.

One of the most intimidating figures facing a potential home buyer is the size of the deposit.  The standard followed by most lenders is about 20% of the selling price of the home.  Lovemoney.com is reporting the average loan to value is at its highest level since spring of 2008.  Loan to value is the amount a lender will loan compared with the value of the home a buyer is attempting to purchase.  The figure now stands at 61%.

To improve the outlook for buyers further, interest rates are being lowered by some lenders on a number of mortgage deals.

Figures from moneyfacts.co.uk are also encouraging to the housing market.  The number of loans with higher loan to values has gone up significantly since April of 2010.  For example, 90% LTV mortgages have surged from 140 to almost 230 year on year to April.

Some inside the housing market believe this is possibly the start of a milestone for the housing market.  Others believe this is only a rebound off a first quarter mired by bad weather and the country being fresh off a holiday season.

The chief economist for the Council of Mortgage Lenders, Bob Pannell, weighed in on the subject last month, saying: "Lenders expect mortgage credit availability to improve this quarter."