Mortgages Bounce Back

For the third month in a row, the range of mortgage products available in the UK has risen. Whilst we are still no where near our peak of 30,000 deals in 2007, the fact that the number of deals available has grown is an indicator that the market is moving back in the right direction, and more importantly that these deals are now sustainable.

One of the factors that property advisors are contributing to this growth in mortgage deals is the recent ‘new rates’ launch by Halifax for existing customers.


However, despite these new rates many lenders are still refusing to offer competitive remortgage deals to homeowners – a situation which experts believe won’t change until 2011. Instead they are choosing to shun remortgages in favour of house purchasing lending.

Speaking on this new lending attitude, Risk and Economics director Gary Styles believes that this refocus in lending is because lenders are desperate to hit their government targets.

As a result, the Council of Mortgage Lenders has reported a 6% drop in the number of sanctioned remortgages given last month and a further 39% drop year on year to just 31,000.

Original Article

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Peter Franklin, Property Mentor Delegate

I used to believe stocks and shares were the only way forward, yet after 15 years of property investing, neither of these can compare with the sheer velocity or impact that property investment can have on your bank account. Only with property can you truly experience the power of being in control of immediate cash flow AND capital appreciation. Stocks and shares simply cannot compete. Read more