New figures from the Mortgage Advice Bureau (MAB) have revealed an increase in the number of re-mortgage loans being taken out. The 27 per cent increase in the popularity of loans was, however, offset by similar decrease in home buyer mortgages . In the wake of the credit crunch, fewer people are purchasing new properties, with remortgage deals and new purchases now of equal importance to MAB’s business . When compared to this time last year, when home purchases accounted for 64 per cent of MAB’s market, and remortgage deals for just 36 per cent, it is clear that people have become more cautious in purchasing new properties.
However, it has become harder for people to get mortgage deals, with banks withdrawing offers and reducing the loan to value proportion they are willing to offer from 100, sometimes more, to no more than 90 per cent.
Remortgage Loans Increasingly Popular
Tue, 29 Apr 2008
Recommended links
How does a payday loan work?Payday loan charges
Who are they suitable for?
Pros and cons of payday loans
Taking out a payday loan
Unsecured Loan Debts to Double in 2008
Research Shows Increase in Personal Loan Rates
|
|
|
