Critical phase for mortgage sector, says moneysupermarket.com
www.moneynews.co.uk > Mortgages > Critical phase for mortgage sector, says moneysupermarket.com
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Money News |
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Critical phase for mortgage sector, says moneysupermarket.com
Wed 30th Sep 2009
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Hannah-Mercedes Skenfield, mortgage spokesperson at the website, made her comments following the news that HSBC has extended its funding of 90 per cent loan-to-value deals by an extra £500 million taking the total available for the year to £1.5 billion.
She pointed out that it is encouraging to see lenders providing more mortgage finance for first-time buyers and that it shows belief in that type of customer and provides positive news for the market.
However, Ms Skenfield questioned why more lenders are not offering cheaper deals while the base rate still stands at 0.5 per cent.
"The main issue continues to be supply rather than demand, with too few lenders opening the purse strings at a reasonable rate," she explained.
Ms Skenfield pointed out that HSBC currently offer the most competitive 90 per cent loan-to-value mortgage at 3.89 per cent for two years.
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Related News : Mortgages |
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