7 Feb

Mortgage lending in 2011 to match 2010

Mortgage lending in 2011 to match 2010

People looking to buy houses for sale in 2011 may not suffer from a drop in mortgage lending.

Home loan availability in 2011 will match activity in 2011, according to the Association of Mortgage Intermediaries (AMI).

Its quarterly economic bulletin also predicts strong tenant demand will improve buy to let financing this year.

Robert Sinclair, director of AMI, said: "Broadly we expect housing transactions, house prices and lending levels to match last year.

"However the second half of the year still has potential for an upside if government decides it needs to encourage more support for first time buyers."

The buy to let sector will be a "bright spot" in 2011, he added.

Figures from Moneyfacts have revealed that the number of mortgage products available to people buying houses for sale in the UK has more than doubled since 2009.

Two years ago, 1,097 different home loan products were on the market – today 2,447 products are on offer.

In addition, mortgages deals requiring a 20 per cent deposit have seen a threefold increase.ADNFCR-1222-ID-800388487-ADNFCR

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