More positive news, this time from the Council of Mortgage Lenders who cite the fiollowing reasons for optimism in the housing market:
1. The availability of 90%-plus LTV mortgages has more than doubled in the past two years
2. There is ‘much more’ lending at higher LTV levels
3. More first-time buyers are entering the market without assistance
4. Lenders expect to offer more high LTV mortgages this year
5. NewBuy – the controversial taxpayer-backed scheme whereby purchasers of new-build properties only are able to get 95% mortgages – is being extended
6. Lenders are innovating responsibly – the CML cites Lloyds lend-a-hand mortgage, Nationwide’s save-to-buy scheme and Barclays’ new Family Springboard mortgage
7. There is ‘constructive’ forward planning going on within the mortgage industry
8. The outside world is beginning to notice the improvement in lending conditions. The CML says that people are beginning to notice that lenders are open for business.
Read the full article here:
http://www.estateagenttoday.co.uk/news_features/Housing-market-recovery-IS-here-insist-lenders