Mortgage market 'firming up'
Homeowners who wish to increase the value of their property often invest in improvements, such as bespoke conservatories or garden studios.
Those who have taken this path may be pleased by recent comments from Assetz which suggest that the mortgage market may be undergoing some positive changes.
According to the firm, there has been a substantial improvement in bank lending terms in the last few months.
Gross mortgage lending totalled an estimated £13.6 billion in July, which represents a five per cent increase from June, according to Council of Mortgage Lenders (CML) figures.
While this is still three per cent down year-on-year, Assetz chief executive officer Stuart Law said the main improvements in lending had been in home loans.
"We saw that the loan-to-values continued to improve and the loan interest rates continued to improve," he said.
"The jump that the CML has reported in lending was quite substantial and it is the first proper set of data since the election."
Mr Law added that the data from the past few months had been affected by the uncertainty of the election and may not have been a true representation of the state of the market, which is beginning to firm up.
Posted by David Waxman
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