Mortgage Advice Bureau comments on today’s BOE Credit Conditions Survey

Brian Murphy, head of lending at Mortgage Advice Bureau, comments:

“The easing of the wholesale funding markets along with the Bank of England’s Funding for Lending scheme has allowed lenders to realise their market share objectives, and there’s been a noticeable increase in mortgage availability in the last quarter.

“The Credit Conditions Survey suggests the availability of secured credit will increase significantly for the rest of the year, but we need lenders to focus on the bottom end of the market. Lenders say they’ve seen an increase in demand for house purchase, but if the market is to grow it needs new borrowers and remortgagors coming through at high LTV levels.”

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