Mortgage Availability to Improve
The Bank of England's Credit Conditions Survey found that lenders reported an increase in mortgage availability in Q3, with expectations of further improvement in Q4.
- Lenders' risk appetite had the biggest influence on secured credit availability to households in Q3, with a score of 18.8%.
- Mortgage availability improved for all borrowers, with scores of 28.1% for lending at 75% loan to value (LTV) or less and 27% for high LTVs.
- Lenders expect to maintain this positive trend in Q4, with readings of 26% and 25.5% respectively.
“Lenders remain keen to lend and have the funds available to do so. The past few months have seen them ease affordability criteria, increasing the borrowing potential of many mortgage applicants.” - Mark Harris, chief executive of SPF Private Clients
Author's summary: Mortgage availability is expected to improve in Q4.
More News
- Museum hosts Lionel Youst for talk on Egyptian and Liberty theaters' rich history
- IU football coach Curt Cignetti agrees to new eight-year contract worth $11.6 million annually
- Why I still love newspapers
- The End of Cybersecurity
- Alberta pick a plate
- New area to watching in the Central Atlantic
- FHFA Outlines Five-Year Plan to Strengthen Oversight and Efficiency - The MortgagePoint
- Maxcess Appoints Raymond Baran as Interim CEO
- 6 Drive-Thru Coffee Lessons Every Operator Should Know
- Carlton Park Playground Improvements