Mortgage lenders 'to give finance for home purchases'

Posted: 05 Jul 2010 11:02:02 GMT

The majority of mortgage lenders intend to continue giving finance at similar levels to what they already have been, one expert has claimed.

Ray Boulger of leading independent mortgage adviser John Charcol noted those looking to buy a home may benefit from the entrance into the market of a number of smaller companies.

He added there has been a "significant improvement" in the default rate on mortgages in the second quarter of the year.

"In each quarterly forecast for the last year lenders expected defaults to increase and in each quarter they fell," Mr Boulger remarked.

The specialist continued this means it is possible to look at forecasts "with a pinch of salt".

With the Budget out of the way, he stated activity in the sector will improve as people look to purchase property.

Nationwide recently revealed the south-west outperformed other regions in terms of house price growth over the second quarter of this year.


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