Mortgage News
19 July, 2013
There is a general consensus that things are improving in the mortgage market, with a strong increase in lending over the first few months of 2013. According to the Council of Mortgage Lenders, mortgage activity in May was one of the strongest since the start of the credit crunch in 2008
At the same time, first-time buyer numbers rose 15% in April, according to LSL Property Services. This was due in part to an improvement in the availability of high loan-to-value (LTV) mortgages.
Of course, a large number of column inches in the newspapers have been taken up with stories about the Government’s new Help to Buy scheme. There has been high uptake in the Equity Loan part of the programme while the Mortgage Guarantee element – available on new build and existing properties – is due to be introduced in January 2014.
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