The mortgage market could have reached its lowest point and the end of the credit crunch might be in sight, one expert has claimed.
Ray Boulger, mortgage expert with broker John Charcol, believes that it may soon be in the interests of lenders to start offering 100 per cent loan-to-value products again, reports the Guardian.
He also believes that the cost of fixed-rate mortgages could have peaked and will soon start to fall.
Speaking to the newspaper, he said: "The margins that they [mortgage lenders] can obtain today are at a level they would have died for a year ago."
This means for mortgage lenders that are "in a strong capital position" there is a good case for increasing the amount they lend to customers to the maximum, he added.
Yesterday, research by research by Moneyfacts.co.uk revealed that the average interest rate on a two-year fixed-rate mortgage now stands at 7.02 per cent.
Mortgage market could rebound, expert claims
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Mortgage market could rebound, expert claims
Thu, 26 Jun 2008
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