Mortgages 'have not completely fallen off the rails'
www.moneynews.co.uk > Mortgages > Mortgages 'have not completely fallen off the rails'
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Mortgages 'have not completely fallen off the rails'
Wed 28th May 2008
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The BBA's analysis of high street bank's data found that mortgage lending strengthened last month from March, mostly off the back of increased remortgaging activity, which was said to be "exceptionally strong".
Drew Wotherspoon, a spokesperson for John Charcol, notes that although the numbers are still significantly down year-on-year, "we can however conclude that the mortgage market has not completely stopped in its tracks".
He added that good-value products can primarily be found in the long-term market at the moment, citing Woolwich's ten-year fixed-rate deal as ideal for those with good equity and no need to move home for the next few years.
"For those that require a shorter-term deal the message is definitely apply now. It looks as if we are about to see another round of price increases from lenders," Mr Wotherspoon concluded.
Related News : Mortgages |
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