Signs that the Mortgage Market is in Recovery
26th May 2020
In a recent article by Mark Lofthouse of Mortgage Brain, he remarked that the numbers of deals being done last week was up 11% from the low of week beginning April 13, however is still way off the highs of post Lockdown.
That said, those lenders that have remained active over the last few months are now increasing their Loan to Value percentages and product ranges, which can only help stimulate the market moving forward.
In England, the green light has been given to reopen the housing market, with valuations and property activity restarting, and estate agents un-furloughing staff, these improvements in product availability and volume are likely to continue . Everyone, from first time buyers to investment buyers who have been forced to take a step back, are now able and ready to resume their property searches once more.
As Ali Mitchell of RobMac has reported recently, the remortgage market has been very busy thanks to historically low interest rates and the fact that lenders are open for business, albeit in a reduced capacity.
Alison Mitchell – Senior Mortgage Advisor
She said “While this activity is just happening in England, it’s good to see how quickly things are returning to the new normal. This gives us all an optimistic outlook that should see Scotland follow suit in the next week or so. There has never been a better time for us to offer advice and reassurance to our clients.
If any of the above is of interest to you and you would like to discuss your mortgage further, you can arrange to meet online with one of our financial advisers by scheduling an online meeting here >>