1
Mar
Mortgage lending 'should be made easier'
In order to help those wanting to go through the conveyancing process, banks and building
societies should increase mortgage lending, it has been
claimed.
According to Catherine Hearnden, director of MyMortgageDirect, if
such institutions did this, the property market would be
boosted.
Her comments follow the release of figures by the British Bankers
Association, which showed that the number of loans for property
purchases provided by high street banks totalled 35,000 in
January.
Ms Hearnden remarked: "Loan-to-values (LTVs) must continue to
increase and the rates have to become more attractive."
She added that increased LTVs are beginning to be made
available.
However, people are now realising that if they want loans totalling
a greater proportion of the value of their homes, they will have to
pay more for them, the expert went on to suggest.
This, she stated, is part of a growing sense of realism emerging
among aspiring property buyers.
