Woolwich remortgage and mortgage market update.
According to the latest Woolwich remortgage and mortgage market review, January's lending figures showed a decrease on the previous months lending, but a year on year increase when compared to the previous January's figures.
The Woolwich mortgage market review advises that it is actually the year on year lending figures which are most important when considering the significance attached to January's lending figures.
Council of Mortgage Lenders figures show that January's lending fell by 14 per cent from £12.2 billion recorded for December, however from January last year lending increased by 10 per cent.
The CML advise a seasonal decline had been expected for January, but it was the 6th month in a row to experience a year on year mortgage lending increase.
A boost in lending may be attributed to first-time buyers rushing to complete deals prior to the end of the stamp duty holiday in March.
Lending may slightly drop after the March 24th stamp duty holiday ends, but when all things are considered market indicators still look positive for Woolwich remortgage and mortgage lending.
Early 2012 has also seen the emergence of longer term products to the mortgage marketplace. The Woolwich re-introduced a 10 year fixed rate mortgage product having seen the popularity of other lenders longer term offerings.
The lender also launched a 'Future Fix' mortgage deal offering borrowers a tracker deal for the first two years with a fixed rate deal taking over for the last three years
Whether you are looking for a Woolwich remortgage or other lenders best offers, Deal Direct's skilled mortgage advisers can help. We are up to date on the latest lender offerings and are best placed to find you a competitive deal.
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