Assetz: Conditions improving for people seeking fixed rate mortgages

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Assetz: Conditions improving for people seeking fixed rate mortgages

Consumers seeking fixed rate mortgages and other products could benefit after Assetz reported a "substantial" improvement in bank lending terms.

According to the organisation, conditions in the market have got much better in the last few months.

This, it said, is apparent in recent figures from the Council of Mortgage Lenders (CML), which the group noted is the first proper set of data since the general election in May.

Stuart Law, chief executive of Assetz, commented: "What we are seeing is a continued [and] moderate firming up in the market."

He added that the data for previous months had been influenced by the fact that a general election was imminent.

This, he stated, meant there was lots of uncertainty about what was going on.

Figures from the CML showed that during July 2010, gross mortgage lending came to approximately £13.6 billion.

This is five per cent up on the amount recorded during the previous month.

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