Mark founded MoneyMaxim in 2008, with the aim of delivering an impartial and independent service. Mark is a regular money saving expert in the press and writes regular news and articles for the MoneyMaxim news pages sharing his views on banking, personal insurance and the utilities (gas, electricity, mobile and home phones, broadband and pay TV) market with customers.
The Daily Telegraph is today reporting that there could be a shortage of funding in the mortgage market – creating still further issues for the ailing housing market and those looking to get into the housing market.
Come the end of February the mortgage lending targets set for the major state funded banks expires, and there is a concern that if they do not continue to lend in the volume they have over past twelve months that the market will further stagnate.
Already the amount required for deposits have risen sharply causing some to have to put on hold their plans to own their own homes, but this could be exacerbated if funding from these banks (who include Lloyds, Halifax and the Royal Bank of Scotland) becomes tighter still.
Currently our mortgage partner has a great range of mortgages on offer in the market, including some very attractive rates from the Skipton Building Society, ING and the Woolwich (Barclays) – for customers looking to either move in early 2011 or remortgage it could well be worth it to get an application underway now before any impact of ta funding squeeze becomes apparent and starts making mortgage deals lees attractive.
YOUR HOME OR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE