Mortgage lenders becoming more helpful
Bespoke conservatories and pool houses may be attractive propositions to buyers, but a deal can rarely take place unless they have access to the correct home loan.
Fortunately, What Mortgage has suggested that lenders are now introducing more products onto the market in an attempt to assist borrowers.
The number of mortgage schemes available to intermediaries reached 6,000 earlier this week for the first time since November 2008, Mortgage Brain statistics revealed.
What Mortgage editor Ben Wilkie explained: "It is certainly a sign that lenders have the ability to fund mortgages at the moment."
He said that firms are now recognising the increased demand for home loans and trying hard to come up with the products to satisfy it.
Homeowners are increasingly choosing variable rate deals as they have now got used to the fact that the base rate of interest is low, Mr Wilkie added.
A belief that rates will stay low for a few years means that such offers seem particularly attractive.
Posted by Ashley Ault
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