'Positive signs' spotted in mortgage market
Property professionals
8th May 2009
There are some very positive signs in certain areas of the UK mortgage market, it has been claimed.
According to Andy Pratt, chief operating officer at independent mortgage advice firm Alexander Hall, while areas such as buy-to-let remain difficult, there are growing numbers of people interested in buying a property.
His claim comes after new research from Paragon Mortgages suggested that confidence is starting to return to the mortgage broker market.
"We are finding that part of the market is showing some very positive signs for quarter two and hopefully the rest of the year," commented Mr Pratt.
Last month, the British Bankers' Association reported that just over 26,000 new mortgages were approved in March, down from 28,024 in the previous month.
Meanwhile, the average value of a new mortgage in March was £128,600 and gross mortgage lending stood at £8.9 billion - down from the seasonally adjusted figure of £9.2 billion seen in February.
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