For Your Protection and Peace of Mind
All our loans & procedures are approved and qualified by our fully experienced compliance team to ensure they meet our high standards and comply with all current regulatory requirements
 News |
|
Search Categories |
| Archive News |
'Competitive deals' emerging in the mortgage market
Consumer seeking homeowner loans have a range of competitive deals available to them at the moment, according to an expert.
Paula John, editor of independent finance website Your Mortgage, claimed that new figures from the Council of Mortgage Lenders (CML), which highlighted a 43 per cent year-on-year fall in lending during 2009, were not good news.
However, she added that the slight month-on-month increase showed more good deals are emerging and more competitive offerings are becoming common.
She explained: "There are more mortgage lenders playing in the higher LTV [loan-to-value] arenas, so more of them are offering mortgages at 80 per cent LTV plus.
"That is reflected in the surprising strength of the December figures which would traditionally be a very quiet period of time."
Total lending in the UK reached £143.7 billion during 2009, according to the figures from the CML.
The figure is believed to be the lowest annual total recorded since 2000.