|    FM Home   |    FM News   |    FM Forum   |    FM Blog   |   
24th of August 2011
|   Banking  |   Insurance  |   Property  |   Mortgages  |   Economy  |   Investments  |   Credit Cards  |   Debt  |   Loans  |   Pensions  |   Companies  |  

Report reveals rise in mortgage availability

Bookmark and Share

by Kay Mitchell

Figures from Moneyfacts have revealed in the number of mortgage products.

The credit crunch resulted in a tightening of lending criteria and mortgages have been hard to secure without a substantial deposit.

However, the number of different mortgage products has risen to its highest level since November 2008, according to Moneyfacts, due to increased competition.

In particular, mortgages offering just a 10% deposit are rising, good news for first-time buyers, the financial information service said.

Mortgages offering a 10% deposit now stand at 261 compared with 176 this time last year.

However, banks remain cautious about who they lend to with strict credit checking in place.

A spokesperson for Moneyfacts said: “Lenders appear to be applying the recent cuts equally across all loan-to-value tiers, which is good news for first-time buyers, as previously cuts were only being applied to the lower loan-to-value bands.”

Discuss this in the Finance Markets forums

Story link: Report reveals rise in mortgage availability

News posted: July 5, 2011

Financial Services:

Related financial stories to: Report reveals rise in mortgage availability:
Previous: «
Next: »

Visited 1244 times, 9 so far today

No Comments »

No comments yet.

RSS feed for comments on this post.

Leave a comment

Tags: , , , , , , ,


Mortgage News feed Mortgage News

All Financial News feed All Financial News