8
Mar
Mortgage availability 'on the rise'
The availability of mortgages is increasing, new figures produced
by Moneyfacts suggest.
According to the organisation, at the start of this month, there
were a total of 1,798 products on the market that required deposits
of between zero and 40 per cent.
This was an increase of six per cent compared with the previous
month, meaning those seeking property for sale in Norfolk, as well as other places,
may have more choice.
In addition, it was an increase of 86 per cent on the year
before.
Moneyfacts' Michelle Slade said: "There are a growing number of
mortgage providers who are becoming a little more accommodating
with their credit criteria and this bodes well for consumers who
will benefit from a growing competitive mortgage market."
Recently, Catherine Hearnden, director of MyMortgageDirect,
suggested that banks and building societies should make lending
conditions less strict as this would boost the property
market.
