Lenders turn away buyers from loans

post Category: Mortgages — LeonaThompson @ 9:48 pm — post
postMarch 30, 2008

Hundreds of people trying to buy houses will tommorow become part of the other thousands in a desperate race for a home loan or mortgage as more and more lenders are starting to pull out the martket and what they will lend people. It has hit an alltime low for this first time in a quarter of century many lenders now have ques for mortgage applications.

 

Mortgages have risen upto 7% and even higher home buyers will need some form of deposit in order to have any chance of getting on the property ladder. A quote from the yorkshire building society said:

“We know how much business we want to do, and we do not want all the applications coming our way. We will price accordingly.”

We will keep you updated with all information as we here it.

By

Leona Thompson

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