14
Sep
Mortgage loans 'should rise in September'
Homebuyers should not be too concerned over securing the finance to
purchase a house for sale in the UK after one property expert
predicted lending to increase this month.
According to mortgage advice company Alexander Hall, August 2010
represented "the lowest point" of the mortgage market.
Chief operating officer Andy Pratt was speaking after the Council
of Mortgage Lenders (CML) revealed yesterday (September 13th 2010)
that demand for home loans in July was low.
Findings showed that while there were more mortgages advanced
compared with the previous month, the figures indicated the housing
industry is a "very weak market".
Mr Pratt said that there are expectations that August could be even
worse than July but estimated that results from September should
show some positive signs the industry is improving.
"There is always a good increase [around] September - there is
stock on the market," he added.
Mr Pratt stated that first-time buyers could particularly benefit
from these developments as some providers will start offering
higher loan-to-value products. 