Michael Coogan of the UK Council of Mortgage Lenders gave an interesting interview on BBC Radio 4’s Today programme this morning about the welcome signs of life in the UK mortgage market.
Essentially HSBC has cut mortgage rates; and there now seems to be a willingness from an increasing number of lenders to increase their loan to values. Announcements have been made by Northern Rock, Lloyds, RBS and HSBC. HSBC has made £1bn available for first time buyers.
Listen to the interview here:
