Mortgage Lending – Some positive news

Some recent statistics show that the lending situation is starting to recover.  The Council of Mortgage Lenders has released figures that show a 20% increase in lending from February to March, and although the lending figures are down from a year previously.

Throughout the recession house prices and mortgage lending dropped consistently over a number of months, and consequently the market place becoming stagnant.  So if these figures show that things are starting to recover it has to be good news, not only for the residential market but also for commercial and buy-to-let borrowers.

A spokesman from the Council of Mortgage Lenders confirmed that it would appear that the mortgage market is moving again, with more people finding that they can now obtain the financing that they require in order to help pull themselves out of their own financial crises.

Mortgage Application Fees Going Up.

In a separate report it has been revealed that the application fees associated with mortgage and remortgage lending have increased considerably over the last 18 months.  If you are considering a remortgage, it is essential that you fully research the total cost implications of switching lender – not just the headline rate.

Between September 2009 and March 2011 the average application fee charged on mortgage and remortgage products in the UK increased by just under £100. That’s the findings of recent research from a leading price comparison website and featured in the specialist finance publication Mortgage Strategy.

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