News: Mortgage Market
A commentary on the current state of the UK mortgage market by Christopher Pain, Director of Curchods Mortgage Services Department.
Despite much negative commentary about mortgages, there are some positive signs.
In July, The Council Of Mortgage Lenders (CML) reported that mortgage lending reached its highest level for almost a year - 48,800 loans were approved to the value of £7.8 billion. In what is normally a quiet holiday month, these are very encouraging figures! August also saw increased activity, particularly in the buy to let market, resulting in a 14% increase in lending compared to August 2010.
“The UK mortgage market is continuing
to move in the right direction for borrowers”
Mark Lofthouse Chief Executive Officer - Mortgage Brain
Also worthy of note are the number of new mortgage products recently offered to us as independent mortgage brokers. Many of these deliberately target the top end of the market, where the quality of business and risk factor are considered by the lenders to be better.
A number of the lenders we deal with do not rely on computer based lending models that most High Street lenders insist upon. This enables us to provide a more flexible approach for our clients.
“Curchods Mortgage Services provide a flexible approach to borrowing,
particularly suited to our high net worth clients”
That said, lending criteria is still tighter than it was prior to the credit crunch. We believe this to be a positive thing and it is no hardship for us to ensure speedy and efficient processing of the necessary documentation to ensure our clients’ loans are granted in a timely fashion.
At Curchods Mortgage Services, we have six qualified consultants with over 100 combined years of experience in the UK mortgage market. We are real experts and are available to talk with you any time, during or after office hours, if you require help and advice on organising your mortgage finance.
For more information or to answer any queries you have on how this will affect you, contact Curchods Mortgage Services 01483 479070 or email mortgages@curchods.com or click here
Christopher Pain
Director - Curchods Mortage Services
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We may charge a fee of up to 1.5% of the loan amount for arranging your mortgage. The precise amount will depend upon your circumstances, but a typical fee is £295.
Your home may be repossessed if you do not keep up repayments on your mortgage.
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