Mortgages 'difficult to secure' though on the increase
www.moneynews.co.uk > Mortgages > Mortgages 'difficult to secure' though on the increase
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Money News |
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Mortgages 'difficult to secure' though on the increase
Mon 18th May 2009
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This is the opinion of Timothy Lambert of Ducalian, who said that though statistics from the Council of Mortgage Lenders (CML) show that there were 29 per cent more mortgages granted in March than February, many Brits are still being refused them.
"Not everyone can get a mortgage in 2009 and quite rightly so," he added. "This market is no longer serviceable, but for those with good credit histories, there is no reason why they cannot get a mortgage".
Mr Lambert added that in order for activity in the property sector to pick up, the average loan-to-value rate needs to increase.
The CML's figures showed that first-time buyers accounted for 40 per cent of all house purchase loans in March - a figure up from 38 per cent in February.
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