9 Jul

Moneynet.co.uk welcomes new mortgage

Moneynet.co.uk welcomes new mortgage

One financial firm has commented on Nationwide's decision to bring back the option of a 125 per cent mortgage for homeowners.

Moneynet.co.uk welcomes the fact the building society is helping those who would normally be caught in negative equity to move house.

It also assures people that this latest decision is "not a return to the days where we saw similar loan-to-value loans available via the likes of the Northern Rock Together product".

Although Moneynet appreciates that there is an element of risk for the lender, the customers borrowing the money will have a good track record with Nationwide to prove that they can afford monthly repayments.

The website continues by saying that "these are far from normal times in the housing market and it is a positive move from the UK's biggest mutual".

Meanwhile, Paragon's Financial Advisor Confidence Tracking Index has revealed that 58 per cent of financial advisors are expecting to see an increase in mortgage activity over the coming months.

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