Mortgage Lending to Become Stronger in 2010
February 22nd, 2010 by 
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The Council of Mortgage Lenders has announced that mortgage lending in the UK will pick up in before the end of this year. This comes despite the fact that 2010 has begun rather slowly for the UK mortgage market although this is due in the main to the ending of the stamp duty concession on 31 December 2009.
Despite the fact ot the lack of competition in the UK mortgage market it does believe this will increase slowly and build up throughout 2010. Interestingly 58% of mortgage brokers believe that mortgage enquiries should improve in the first quarter of 2010 with an average anticipated increase in activity of 7.1%.
This is a sector which needs some good news after a rocky few months during which time hopes of a significant firming of the marketplace have been weakened somewhat. The first quarter and the second quarter of 2010 are vital for the UK mortgage arena and the UK property market and all eyes will be on this area of the economy in the next 3 -6 months.
Posted in Mortgage news | 