Why is mortgage lending still so subdued?
Well after reading an article yesterday it helped shed some light on it. In some cases it's not actually the lenders fault.
UK mortgage lenders are hampered by uncertainty and don't want to get carried away doing something today, which will be banned further down the line.
The FSA (mortgage regulator) are still considering the best way forward to ensure this kind of thing never happens again. Unfortunately all the lending industry can do is wait for the final cards from the regulator so they know what they can and can't do.
This leaves intermediaries and the general public in no mans land because we continue to turn away what I consider to be good lending.
Yes nobody wants to go back to the crazy days of any thing goes. However, with common sense and an appetite to lend surely we can kick start the industry back to some normality.
In the mean time secured loans sometimes described as homeowner loans could be the answer. There are more products available with much more flexibility.
Here are some of the areas that Solution Mortgages can help you when looking at a secured loan:-
- CCJ's accepted
- Defaults accepted
- Current mortgage arrears
- Discharged bankrupts
- Current IVA's considered
- Self employed
- Self certification
- Up to 85% LTV's
- Non-standard construction
If you would like some information on secured loans then please call Solution Mortgages Ltd on 0845 1231260 or simply visit our website http://www.solution-mortgages.co.uk/.