Mortgage Availability to Improve
Lenders have reported an increase in mortgage availability in Q3, with expectations of further improvement in Q4, according to the Bank of England's Credit Conditions Survey.
The survey found that changing risk appetite had the biggest influence on the availability of secured credit to households in Q3, with a lender response score of 18.8%. Mortgage availability improved for all borrowers, with scores of 28.1% and 27% for lending at 75% loan to value (LTV) or less and high LTVs, respectively.
Lenders expect this trend to continue in Q4, with readings of 26% and 25.5% respectively. They also reported being willing to lend to borrowers with less than 10% equity in Q3 and plan to continue this in Q4.
“Lenders remain keen to lend and have the funds available to do so. The past few months have seen them ease affordability criteria, increasing the borrowing potential of many mortgage applicants.” - Mark Harris, chief executive of SPF Private Clients
Author's summary: Mortgage availability is expected to improve in Q4.
- Mortgage availability increased in Q3
- Expected to improve further in Q4
- Lenders willing to lend to borrowers with less than 10% equity
More News
- EBU awarded exclusive European media rights for Milano Cortina 2026 Paralympic Winter Games - TVBEurope
- Game of Thrones Power Stacks Slot Review & Demo | Gambling.com
- The Things that Bedevil U.S. Cyber Power
- Did Qatari Money Drive Trump’s Push for Gaza Ceasefire?
- Dramatic video shows grain bin collapse in Illinois
- One of TV's Most Beloved Shows Never Aired Its Pilot for Nearly 30 Years (With Good Reason)
- The Supreme Court Left No Doubt: It Will Gut the Voting Rights Act
- Who knew that the public would end up supporting striking teachers? Not Danielle Smith and the UCP! - Alberta Politics
- Texas Tea Slot Review & Demo | Gambling.com
- Edmonton Oilers Alumni hit the ice for celebrity game in Yellowknife