9 Jul

More mortgage schemes available to 'help people buy houses for sale'

More mortgage schemes available to 'help people buy houses for sale'

There has been a rise in the number of mortgage schemes on the market for potential homebuyers to encourage them to purchase more houses for sales, an expert has noted.

Editor of What Mortgage Ben Wilkie suggested that financial services companies are keen to "attract more borrowers" through different loan initiatives.

He said: "It is a response from the lenders that they realise now that there are more people looking for mortgages and they are trying to come up with products to help them."

He made his comments after Mortgage Britain revealed earlier this week that there were over 6,000 mortgage initiatives in the UK.

It also showed that the number of variable-rate products had risen by 15 per cent from the end of May to the end of June and there was an increase of four per cent in fixed-rate products.

Mr Wilkie added that this increase was "a response to consumer demand".
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