Mortgage lending well down on peak

Mortgage lending well down on peak

Your privacy is important to us. By sending this you agree that only First Choice Finance may use these details to contact you. Any data we hold for you will be handled in accordance with our PRIVACY NOTICE.
Highest Loan To Value Purchase Mortgages And Remortgages - Low Rate Loans From £5,000 To £150,000 - Release Your Equity With An Equity Release Plan

Video transcript

The amount of money lent for mortgages may have been at its highest level since 2008 last year, but it`s still way down on the peak level which occurred the year before.

Council of Mortgage Lenders` (CML) figures show that the total reached £177 billion in 2013, up 49 per cent on the previous year. However, there`s still some way to go before it reaches 2007`s £363 billion or even 2008`s £253 billion.

Looking more closely at the figures and both the December and fourth quarter results were impressive, which could suggest that the housing market is building up a head of steam, but Bob Pannell from the CML notes that "lenders expect little if any boost to borrower demand this quarter".

However, the body adds that it anticipates a constant need for mortgage funding, due to a number of factors, such as the continuation of the government`s Help to Buy and Help to Buy 2 schemes and more people finding jobs.

That said, the availability of funds to feed this demand could be reduced following the withdrawal of the government`s Funding for Lending scheme for domestic purchases.

This is where First Choice Finance can help with our 25 years of experience in the mortgage and loan sectors we have access to multiple lending plans to suit many different circumstances and can identify the most suitable mortgage product for your situation from our panel of lenders.

If we can help then you`ll be presented with a no-obligation free personal illustration, so you can think you it over and decide what to do with no pressure on you. Discover more at firstchoicefinance.co.uk or call us on 0333 003 1505 on a mobile, if on a landline call 0800 298 3000.
 

Return to the video homepage


Homeowner Secured Loans
9.8% APRC. Representative example: Borrow £50,000 over 180 months. 60 months at 8.1%, £497.83 pcm fixed at 60% LTV. Then 120 months at 10.1%, £539.89 pcm variable. Total payable £94,656.60. Total cost of credit £44,656.60 (including: £795 lender fee, £985 broker fee & £42,876.60 interest). First Choice are tied to certain loan providers.

Mortgages & Remortgages
8.4% APRC.
Representative Example: Borrow £120,000 over 25 years at 5.99%, £778.86 pcm fixed for 3 years at 60% LTV. Then at 8.75%, £974.86 pcm, variable for 22 years. Total payable £286,416. Total cost of credit £166,416 (including: £985 broker fee, £999 lender fee & £164,432 interest)


Unsecured Personal Loans
REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.


THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Security is required on immovable property.



Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home. We Advice Upon & Arrange Mortgages & Loans. We Are Not A Lender.

First Choice Finance is a trading style of First Choice Funding Limited of 54, Wybersley Road, High Lane, Stockport, SK6 8HB. Copyright protected.

First Choice Finance - Reviews

Read Our Genuine Reviews


This website uses cookies. Find out more

Loan Plans