Can lenders mortgage best rate deals meet increased demand.
Lenders mortgage best rate deals have seen a 25 per cent increase in borrower demand. Average house prices in 2012 remain static but there is hope of recovery as shown by a significant increase in mortgage applications during 2011, which is expected to carry through to 2012.
It is believed that high rental income, low BOE interest rates and the easing of the mortgage famine will go a way to sustaining the positive development which has started to appear in the housing market.
The number of mortgage best rate loan applications for January show a strong increase from December. December is traditionally known as a slow mortgage month however, the figures remain positive as the number of mortgage applications received during January 2012, were more than 25 per cent higher than the previous January.
Mortgage lending in the new year started positively despite the general negative economic outlook and low consumer confidence levels.
Home-owner confidence began to improve with news of a 4.1 per cent increase in property asking prices since January, according to Miles Shipside the director of Rightmove.
He added that Rightmove are seeing a spring bounce to this year's asking prices. However, the asking price is not the same as the selling price.
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