Mis-sold Mortgage Claims > Mortgage News
Mortgages becoming easier to come by
Tue, 19 Jul 2011
Brits are being granted greater access to mortgages, it has been claimed.

According to Property and Finance Solutions (PFS), those interested in buy-to-let mortgages have more to choose from following a period of market retraction.

PFS director Darren Owen noted that landlords' ability to obtain home loans is improving on an almost weekly basis.

"The criteria changes all the time. The lenders are starting to be a bit more flexible," he said.

"They are starting to adapt a bit more of a common sense approach now and look at the cases overall and say, 'This guy is probably a good bet, we will lend him the money'."

The expert added that loan-to-values are also improving, meaning borrowers often need a lower deposit to secure a mortgage .

Meanwhile, Paragon Mortgages recently released figures showing that almost half (47 per cent) of buy-to-let mortgages in the second quarter of 2011 were for existing landlords - a rise from the previous month's figure of 43 per cent.
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