'Rise in consumers' seeking mortgage advice

Posted: 27 Jul 2010 09:04:53 GMT

More consumers sought mortgage advice during the first half of this year, one organisation has indicated.

>According to Unbiased.co.uk, there was a 24 per cent increase in the number of customers seeking help on home loans compared to the same period last year.

Chief executive of the establishment Karen Barrett said the mortgage market has been tough over the last couple of years, as interest rates stayed low and lenders restricted their criteria.

"Over the last six to twelve months however, there has been more and more good news about the mortgage market," she added.

Ms Barrett also noted some firms have gone back into the higher-loan-to-value deals and borrowers can now choose between more competitive packages.

Last week, Stuart Law, chief executive officer of Assetz, claimed the slowdown in the housing market seen over the last couple of months is unlikely to be permanent.

He cited figures from the Council of Mortgage Lenders, which showed gross mortgage lending for June rose by 15 per cent.


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