New Mortgage Guides

Other Mortgage Guides

Mortgage Types

Mortgage Tools

Low mortgage lending blamed for slow recovery
Mon, 01 Mar 2010
A leading housing company has blamed the slow increase in the housing market on the low amount being given in mortgage deals, the Independent reports.

Steve Morgan, chairman of Redrow, stated that there is little chance of the UK housing market returning to full health while banks remain cautious about lending money.

Mr Morgan also explained that the reluctance of lenders to help first-time buyers could mean the government fails to meet its stated ambition of building three million new homes by 2020.

He told the newspaper: "The chronic shortage of mortgages means that this industry doesn't have a great hope of making inroads into this country's chronic housing shortfall."

Meanwhile, Yorkshire Building Society recently said it is to double its mortgage lending this year.

The society's announcement comes after the company reported its gross mortgage lending fell in 2009 to £900 million from £2.5 billion the previous year.

In addition, Yorkshire Building Society revealed a pre-tax loss of £12.5 million for the year to December 31st, a fall from £8.3 million in 2008.

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