Lenders 'more confident about property market'

Posted: 05 Nov 2009 10:41:58 GMT

UK lenders are more confident about the nation's property market than they were earlier in the year, it has been suggested.

Competition in the sector is starting to return and companies do not seem to think it will fall any further, according to editor at What Mortgage? Ben Wilkie.

He claimed that there are some positive signs all round, although conditions are still "pretty poor" compared to 18 months ago.

"There are now a couple of 90 per cent loan-to-values and I think probably eventually we are going to get back to 90 per cent being a standard and some lenders doing slightly more than that," Mr Wilkie explained.

The mortgage expert also called first-time buyers the "drivers of the market" and said if there are no first-timers, no-one else can sell their house.

His comments come after financial portal Moneyfacts indicated this month that the number of 85 per cent loan-to-value mortgages available grew from 189 to 226 in October - this is the highest level for more than 12 months.


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