Mortgage deals galore - if you have the money | Mail Online
The mortgage drought, currently stalling the housing market, is likely to continue with a lending crackdown announced last week by the Financial Services Authority.
Yet for homebuyers looking to trim costs and with plenty of equity, some of the cheapest deals in living memory remain readily available.
‘On one level, it’s been a sombre week for the mortgage industry,’ says David Hollingworth, loans expert at broker London & Country.
‘The regulator has said it is going to clamp down on the issuing of interest-only loans and make it more difficult for lending to older customers whose mortgage term will run long past their intended retirement. This in turn has fuelled fears of a prolonged mortgage famine.
‘But all this negativity obscures the fact many lenders have already responded to what the FSA is demanding by tightening their lending criteria, so little has changed.
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