View more on these topics

Lenders plan to offer high LTV deals soon

BANK OF ENGLAND:  CREDIT SUPPLY TO REMAIN THE SAME
BANK OF ENGLAND: CREDIT SUPPLY TO REMAIN THE SAME

Lenders have told the Bank of England that they intend to launch higher LTV products in the next three months.

The Bank regularly polls lenders about lending conditions in the previous three months and the next three, then compiles the results quarterly as part of its Credit Conditions Survey.

The latest survey, for Q1 2010, saw a net balance of lenders report that their maximum LTV ratios had risen for the second consecutive quarter, and they expect to see a further small increase in Q2.

Maximum loan-to-income multiples remained broadly stable between January and March and lenders don’t see this situation changing in the next three months.

Lenders have also told the Bank that mortgage demand is likely to recover from the lows seen earlier this year.

But the Bank notes the availability of mortgages is not expected to increase in line with the rise in demand.

It says: “In the next three months the availability of secured credit in the market is expected to remain unchanged.

Recommended

ANDY LEES, KEY ACCOUNT MANAGER, UINSURE

Family houses next generation of clients

As with most general insurance providers, I am frequently asked to provide marketing materials, campaign ideas and product literature to help drum up new clients. All these work to a degree. But an opportunity sitting right under many advisers’ noses is often overlooked when they conduct client reviews. This opportunity is employed children living at […]

Anglo Irish Bank: lender dubbed a zombie by some has initiated legal proceedings against

Zombie bank sues former chairman for repayment of E70m loan

Sean FitzPatrick, the man seen as responsible for both making and breaking Anglo Irish Bank during the Irish Republic’s so-called Celtic Tiger boom years, is being sued by the bank for the recovery of unpaid loans of £70.4m. FitzPatrick resigned as chairman of Anglo Irish almost 18 months ago, with the bank brought to the […]

Newsletter

News and expert analysis straight to your inbox

Sign up