New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Mortgage lenders' activity highest on record
Wed, 05 Oct 2005
The level of mortgage lending by banks and building societies is at the highest on record, according to Bradford and Bingley .

The mortgage lender said that lending rose to £27.5 billion in August. It claimed that the rise was fuelled by people looking to find a remortgage when coming to the end of two-year fixed rate deals that started in 2003.

It also claimed that loss because of mortgage rate cuts from the larger mortgage lenders has encouraged take-up of fixed mortgage rate products. The mortgage lender believes that borrowers are attracted by the security promised by these mortgages .

Duncan Pownall, mortgage development manager at the Bradford and Bingley, said: "We would expect to see high levels of remortgaging, especially at the beginning of the fourth quarter, as borrowers coming off the last of the cheap 2003 fixes look to avoid facing a big hike in their monthly payments.

"There may also be a seasonal increase in home purchasing, as buyers rush to get into a new home before Christmas."

The report also suggested that the base rate would likely be swayed by how consumers behave during Christmas. Mr Pownall said the high street was "holding its breath" to see if spending increases.

Link to this page

Copy and Paste the following HTML into your page.

Mortgage lenders

Browse mortgage lender offersMortgage Rates by Lender

  • Browse current mortgage offers from over 90 lenders.
Browse

Worried about mortgage repayments?Worried about Mortgage Repayments?

  • Join our petition to Government to bail out burdened individuals, not just banks.
Sign the petition

Free mortgage quoteFree Mortgage Quote

Apply Here

Mortgages in Scotland Mortgages in Scotland

Read More

Equity releaseEquity Release

  • Unlock equity in your home.
Apply Here

Switching mortgagesSwitching Mortgages

Read More

Home reversion plansHome Reversion Plans

Apply Here

Commercial mortgages Commercial Mortgages

  • Commercial property loans
  • Starting a business?
Apply Here

Arrears & CCJs?

  • Remortgages
  • Sub prime mortgages
  • Arrears, CCJs
  • Self certification
  • Debt consolidation
Apply Now

Protect your mortgageProtect Your Mortgage

  • 3 months free mortgage protection cover
Apply Now

Mortgage Newsletter