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Posted by Mark Cunningham

Fluidity in the mortgage market is set to return in May following a subdued period in April, an expert has said.

According to Ray Boulger, senior technical manager at John Charcol, banks and building societies are likely to have begun lending more freely to prospective homeowners once again last month.

Mr Boulger explained that April had been a "particularly weak" time for the sector, but insisted that people should not feel "disheartened" by this fact as the month was essentially a "write off" because of the unusual situation of there being several bank holidays in quick succession.

Indeed, recent data from the Bank of England revealed that the total number of house purchase loans approved in April was down by around 2,000 month-on-month to 45,166.

However, the John Charcol official stated that people should be "pretty cautious about reading too much into those figures", as there are clear indications a pick-up will have occurred in May.
 

08/06/2011 15:21