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UK mortgage market on the up
New research has indicated that the mortgage market in the UK is recovering steadily following the end of the economic downturn.
During the first half of 2010, analysts at Unbiased.co.uk reported a 24 per cent rise in the number of people looking for advice about a home loan from a whole-of-market broker, compared to the same period in 2009.
Some 45,000 enquiries of this nature were made over the first six months of the 2010, up from just over 36,000 in the first half of last year.
Chief executive at Unbiased.co.uk Karen Barrett acknowledged that the mortgage market has suffered a tough past two years, but said there has been "more and more good news" about the sector in recent times.
"We have seen providers re-enter the higher loan to value market, more competitive deals to new and existing borrowers are re-appearing and new providers are entering the market," she commented.
Figures from the British Bankers' Association show that net mortgage lending stood at 4.1 per cent in June, up from 1.1 per cent in May.