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19% of people think funding will thwart mortgage chances

Some 19% of consumers believe they will be unable to obtain a mortgage because of a lack of mortgage funding, according to YouGov research commissioned by Precise Mortgages.

The survey also reveals that 30% of borrowers will be looking for a new mortgage over the next 12 months, and in the 35 to 44 age bracket this increases to 40% of borrowers.

Alan Cleary, managing director of Precise Mortgages, says: “Many people believe that banks have a funding problem but things have moved on significantly in the last 12 months.  

“The big banks are paying back the government-led special liquidity scheme ahead of schedule because liquidity has improved more quickly than expected.  

“Many mortgage lenders, including Precise Mortgages, want to lend more money to customers.”


Privatised quangos create a right mess of conflicting rules

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Shared equity deal will just be a debt trap for first-timers

I read Mortgage Strategy reporter Tessa Norman’s blog about Castle Trust’s shared equity scheme last week and was unimpressed by the deal. It will offer borrowers who have a 20% deposit an additional 20%, so they can access a 60% LTV deal from another lender. When the property is sold or the mortgage term ends, […]


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