Mortgage market on the move

According to reports from price comparison website moneysupermarket.com, there looks to be some momentum and movement in the mortgage market now – from both borrowers and lenders too.

In recent reports, the website revealed figures about the numbers of people using the website’s services to look for mortgages. The figures showed an increase of approximately 29 per cent from those seeking a remortgage whilst an increase of around 17 per cent was seen in the numbers of first time buyers.

Mortgage Channel Manager for the price comparison website, Hannah-Mercedes Skenfield stated that following Alistair Darling’s Budget there was an immediate increase in activity, which can in some years prove to be somewhat of a temporary reaction but this year it does not seem to be the case.

Ms Skenfield commented:

“We can clearly see from our numbers that momentum remains high and this has spilled over into other homebuyer profiles.”

Ms Skenfield also added that the interest rates and product deals from lenders seem to be continually improving and so there should be plenty of great value mortgage products competing for the borrower’s attention in the next couple of months.

Should this prove to be the case, then mortgage advisors all over the UK will be pleased to have a greater choice to offer their clients.

In other reports, Coventry Building Society has launched what has been described as a unique product and the Post Office is also set to offer a new first time buyer product.



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