18 Feb

Mortgage lending market 'will slowly improve'

Mortgage lending market 'will slowly improve'

The mortgage market will improve but it will take time before it reaches pre-credit crunch levels, an expert has suggested.

Bernard Clarke, spokesperson for the Council of Mortgage Lenders (CML), explained that estate agents and mortgage lenders can expect to see business increase throughout 2010.

However, he cautioned that it will not be quick.

"Because there were a bunch of transactions that went through in December, it is likely that lending will be a little slow to start in the early months of the year," Mr Clarke stated.

Research released by Paragon Mortgages on February 16th found that more than half (58 per cent) of brokers are anticipating an upturn in business by the end of the first quarter of 2010.

On average, those who are expecting an improvement have predicted that business levels will pick up by 7.1 per cent by the end of March.

Just eight per cent of respondents to the poll stated that they believed the market would suffer a decrease.ADNFCR-1222-ID-19624526-ADNFCR

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