moneysupermarket.com comments on today's CML figures

Published:

14/04/2009

Topic:

Press Release,Mortgages

Commenting on the CML figures, Louise Cuming, head of mortgages at moneysupermarket.com, said:

"The key issue in the mortgage market at the moment is the supply of mortgages, not demand.  This is especially true at higher loan to values, which is where many customers find themselves but lenders are very wary of operating.

"Whilst the slight increase in lending month on month is good news, the demand for mortgages from customers still outstrips the willingness of lenders to lend.  Although no one wants a return to the borrowing boom of 2007, and the market needed the shift towards risk based lending that we have seen, the pendulum has swung too far now, and the overly tight lending criteria is proving to be a straight jacket for the market.

"There is positive news... Less people are paying stamp duty and that should encourage buyers. However, the Government needs to extend the temporary increase in the stamp duty threshold beyond September 2009 to sustain this much needed support for the market."

- ENDS -

Download This Press Release

Download as RTF

Related Links

Related Resouces