Financial Crisis Makes Mortgage Lenders Squeeze Home Loans
Mortgage lenders are keeping the best mortgage deals for the lower risk borrowers, and reviewing the mortgage contract terms for risky borrowers, as a result of the global credit crunch.
The Citizens Advice has reported an increase by 35% in the number of people seeking their support for problems with mortgage arrears.
The mortgage lenders have withdrawn most of the no-deposit mortgages, and demand large deposits from borrowers to qualify for the best interest rates.
The credit crunch is affecting many aspects of our lives, including buying property, the number of first-time property buyers who must find 25% deposit is at its highest for a 30 year period. There are no visible signs of the credit crunch easing relief, even though central banks and governments across the globe are trying desperately to re-establish liquidity to the seized-up markets.
Popularity: 8%
More News| We offer IT Support Services Sussex |
| Thinking of financial spread betting ? then check us out. |
| Wedding Cars East Sussex |
Comments
Got something to say?