15
Sep
Big mortgage lenders 'giving funding to homebuyers'
Large mortgage providers are helping people to purchase a house for
sale in the UK by continuing to provide them with funding.
This is according to Robert Sinclair, the director at the
Association of Mortgage Intermediaries, who suggested it is good
news that these "significant players" are helping people buy
property during these "difficult times".
His comments were in response to a recent report released by the
Council of Mortgage Lenders (CML), which showed that 82 per cent of
all lending activity during the past year was given by the five
largest mortgage providers.
Mr Sinclair said: "Their capacity to lend is still
sustainable."
He added that lenders are continuing to provide "competitive
pressure", which he regarded as a good sign for the lending
industry.
The CML's findings also revealed that gross lending in 2009 dropped
by 43 per cent - a greater decline than in 2008, when it fell by 30
per cent. 