15 Sep

Big mortgage lenders 'giving funding to homebuyers'

Big mortgage lenders 'giving funding to homebuyers'

Large mortgage providers are helping people to purchase a house for sale in the UK by continuing to provide them with funding.

This is according to Robert Sinclair, the director at the Association of Mortgage Intermediaries, who suggested it is good news that these "significant players" are helping people buy property during these "difficult times".

His comments were in response to a recent report released by the Council of Mortgage Lenders (CML), which showed that 82 per cent of all lending activity during the past year was given by the five largest mortgage providers.

Mr Sinclair said: "Their capacity to lend is still sustainable."

He added that lenders are continuing to provide "competitive pressure", which he regarded as a good sign for the lending industry.

The CML's findings also revealed that gross lending in 2009 dropped by 43 per cent - a greater decline than in 2008, when it fell by 30 per cent. ADNFCR-1222-ID-800066141-ADNFCR

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