9 Oct

Mortgage products are becoming easier to access

Mortgage products are becoming easier to access

UK buyers of property are now finding it far easier to purchase houses after it was revealed that there are a greater number of mortgage products on the market than there were just months ago.

Typically, buyers have been facing mortgages with a deposit of 20 to 25 per cent, but MoneySupermarket has now reported a growth in all types of house purchase loans, with 14 per cent more 70 per cent mortgages now available compared to just six months ago.

Clare Francis, mortgage expert at MoneySupermarket said: "Attempts by the Bank of England to stimulate the economy to start lending again through its Funding for Lending Scheme, making £80 billion of lending available at a low cost to the industry, has spelled some good news for borrowers."

She also went on to say that it is now the case that lending rates of interest are dropping further, making monthly payments cheaper for buyers than in the past.ADNFCR-1222-ID-801466263-ADNFCR

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