23
Aug
Mortgage lending conditions 'improve for homebuyers'
Homebuyers looking to purchase a house for sale in the UK have been
encouraged by the positive signs that mortgage lending conditions
are getting better.
This is the opinion of Stuart Law, chief executive of Assetz, who
said there has been a "substantial improvement in bank
lending".
He stated: "We saw that the loan-to-values continued to improve and
loan interest rates continued to improve."
Mr Law suggested this indicated a "continued [and] moderate firming
up in the market".
He was speaking in response to the recent findings from the Council
of Mortgage Lenders which showed that mortgage lending increased by
five per cent from June 2010 to July.
While banks lent out £12.9 billion to potential homeowners in
June, the following month saw borrowers receive £13.6 billion
in total.
Mr Law added that there has been an increase in the number of
people buying and borrowing as there are reasonable deals on offer
at the moment, which he stated "people are taking advantage
of".