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Mortgage Lending Shows Further Signs of Growth

By The Beresfords Marketing Team - 30 October 2009

According to new figures from the Council of Mortgage Lenders (CML), there has been a significant pick up in house purchase activity. The CML revealed that gross mortgage lending totaled £12.5bn in September. Lending in the third quarter of 2009 reached an estimated £38.9bn, an 18 per cent increase from the second quarter.

John Lineham, Financial Services Director of Beresfords, comments: “This new is very much welcome and highlight the continued stabilisation in the housing market.”
“House buying activity is running at considerably higher levels than around the turn of the year. If you look at the number of people looking for houses, the number of houses available and the number of sales agents are making it becomes clear that there has been a marked improvement in the housing market over recent months.”

What’s more competition is returning to the mortgage market with a series of lenders cutting their rates by up to 0.6 per cent, including Woolwich, Nationwide and Northern Rock.

John continues: “Homeowners and buyers will benefit from these cheaper deals as banks and building societies compete for business.”

“As independent advisers we are not tied to any one lender and have access to the whole mortgage and protection market. There are some great deals out there to be had even if you do have a limited deposit.”

For further information on Beresfords Financial Services division contact 0800 389 9986