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| Mortgage demand dip predicted by lenders | Mortgage demand dip predicted by lenders |
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| Demand for home loans is expected to fall in the coming months as the mortgage market continues to stagnate. | Demand for home loans is expected to fall in the coming months as the mortgage market continues to stagnate. |
| Lenders believe that demand for mortgages for house purchases will drop in the first three months of 2011 as people delay decisions to move. | Lenders believe that demand for mortgages for house purchases will drop in the first three months of 2011 as people delay decisions to move. |
| The views are reported in the Bank of England's Credit Conditions Survey, with lenders also expecting the recent jump in remortgaging demand to stall. | The views are reported in the Bank of England's Credit Conditions Survey, with lenders also expecting the recent jump in remortgaging demand to stall. |
| However, mortgage availability could pick up, the report said. | However, mortgage availability could pick up, the report said. |
| Loan availability | Loan availability |
| Overall, the lending picture remained relatively unchanged over the latter part of 2010, according to the Bank's report. | Overall, the lending picture remained relatively unchanged over the latter part of 2010, according to the Bank's report. |
| However, demand for home loans for house purchases fell in the final quarter of 2010, dropping at its fastest rate since the third quarter of 2008. | However, demand for home loans for house purchases fell in the final quarter of 2010, dropping at its fastest rate since the third quarter of 2008. |
| Lenders expect demand to continue falling, and that the supply of loans will continue to be constrained. | Lenders expect demand to continue falling, and that the supply of loans will continue to be constrained. |
| Recent house price falls had led to a slight decrease in the availability of mortgages for people borrowing more than 75% of their home's value, but the availability of home loans is expected to rise "a little" in the next three months. | Recent house price falls had led to a slight decrease in the availability of mortgages for people borrowing more than 75% of their home's value, but the availability of home loans is expected to rise "a little" in the next three months. |
| The report also said that fewer borrowers of unsecured credit - such as credit card holders - have defaulted for five quarters in the row. | The report also said that fewer borrowers of unsecured credit - such as credit card holders - have defaulted for five quarters in the row. |
| What do you think of the findings of the survey? Are you trying to obtain a mortgage? Are you in the property industry? Send us your comments and experiences using the form below. |