|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |    25th of February 2018
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Mortgage News feed Mortgage News

All Financial News feed All Financial News

Tighter lending criteria for mortgage borrowers

Bookmark and Share

by Gill Montia

In its latest Credit Conditions Survey, the Bank of England has reported that demand for house purchase mortgages fell slightly in the three months to early September.

In addition, lending criteria tightened slightly for the second consecutive quarter, with the trend expected to continue over the coming quarter.

Some lenders commented that the changes reflected a more cautious approach to the self-employed and those applying for higher loan-to-value (LTV) mortgages.

Furthermore, lenders are not expecting an increase in the availability of new mortgage lending over the next three months.

The previous four quarters have seen consecutive increases in the supply of mortgages with LTV ratios above 75% but further increases are not expected in the current quarter.

Finally, demand for remortgaging was broadly unchanged and banks and building societies said they expect demand to remain level through to early December.

Today’s low standard variable rates and homeowners who are unable to refinance because of the small amount of equity they hold in their properties were mentioned by some lenders as restricting the remortgaging market.

Discuss this in the Finance Markets forums

Story link: Tighter lending criteria for mortgage borrowers

News posted: September 30, 2010

Financial Services:

Related financial stories to: Tighter lending criteria for mortgage borrowers:
Previous: «
Next: »

Visited 4744 times, 2 so far today

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.

Tags: , , ,