9
Jul
More mortgage schemes available to 'help people buy houses for
sale'
There has been a rise in the number of mortgage schemes on the
market for potential homebuyers to encourage them to purchase more
houses for sales, an expert has noted.
Editor of What Mortgage Ben Wilkie suggested that financial
services companies are keen to "attract more borrowers" through
different loan initiatives.
He said: "It is a response from the lenders that they realise now
that there are more people looking for mortgages and they are
trying to come up with products to help them."
He made his comments after Mortgage Britain revealed earlier this
week that there were over 6,000 mortgage initiatives in the
UK.
It also showed that the number of variable-rate products had risen
by 15 per cent from the end of May to the end of June and there was
an increase of four per cent in fixed-rate products.
Mr Wilkie added that this increase was "a response to consumer
demand".
