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Lenders 'to increase mortgage availability in 2011'
Posted by Helen Jones
Potential homeowners are likely to have more mortgage deals available to them in the coming months as financiers begin to create more such products following the recession.
That is according to Helen Adams, managing director at online resource First Rung Now, who believes that banks and building societies will want to lend a "bit more" over the course of 2011 as they "build up their reserves" from their profits from other home loan packages.
However, Ms Adams went on to say that despite this higher level of fluidity in the sector, lenders will be increasingly "picky" about who they lend to after the global slump.
These comments come after the publication of data by the Building Societies Association earlier this week (March 1st 2011), which revealed that gross mortgage lending by mutuals went up by 38 per cent in the year ending January 2011.
She went on to explain that many lenders may once again start to offer specialist products for first-time buyers.
04/03/2011 14:32
News category: Property