Consumers 'more satisfied with mortgage lenders'

Posted: 23 Sep 2009 10:17:42 GMT

People in the UK are four per cent more satisfied with their mortgage lender than they were last year, according to new research.

Consumer group Which? Money said that satisfaction levels grew from 58 to 62 per cent over the course of the last 12 months.

According to the Council of Mortgage lenders (CML), the change in attitude reflects the lending industry's efforts to improve communication and customer service.

Michael Coogan, director-general of the CML, said that it was positive news that people were happier with the firms providing their mortgages.

"Lenders have been working hard, under very challenging market conditions, to communicate effectively with their borrowers and treat them fairly," he explained, although the CML noted that the survey was only based on a sample of 1,915 borrowers.

Meanwhile, the Ernst & Young ITEM Club recently predicted that property prices will not recover to their autumn 2007 peak until at least 2014.

The reported increase in house prices over recent months cannot be sustained past next spring, it added.


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