Mortgage lending criteria tightens further.

As mortgage providers restrict their lending criteria further, UK property buyers and those looking to remortgage are advised to enlist the services of independent mortgage broker Deal Direct when searching for a competitive offer.

The mortgage market is already complex with different mortgage types, terms, conditions and lending criteria. Lenders further tightening of criteria and adjustments to their terms are making it even more difficult to work through the suitability affordability of what is on offer.

Independent mortgage experts Deal Direct can help make the process of searching and being accepted for a competitive deal straightforward and pain free.

An increasing number of UK high street lenders are raising rates, reducing loan to value levels and restricting their mortgage porting options.

Some lenders have announced a reduction to their UK mortgage lending levels for 2012 and others are introducing changes which could make it more difficult for would-be borrowers to qualify for a deal or remortgage.

MMR proposals require lenders to ask for more financial information from would-be borrowers and in recent weeks some lenders have been making minor mortgage adjustments which reduce further the number of would-be borrowers likely to qualify for a deal.

The Halifax have for example introduced restricted availability on its 2 year fixes, previously deals were offered for 85 per cent LTV now the maximum it will advance is 75 per cent LTV.

Mortgage rates are predicted to rise further and with what are being described as 'stealth' changes, lenders are making it more difficult to be accepted for a mortgage.

Independent mortgage advisers at Deal Direct are on hand to help you source a new deal.

We are fully up to date on lenders changing criteria, mortgage restrictions and rates and know who will be most likely to approve your application. Contact Deal Direct today for impartial mortgage advice.