Lenders warn of no return to easy mortgages | This is Money
Lenders have warned that the mortgage market is unlikely to ever return to the free and easy days seen before the credit crunch hit.
The Council of Mortgage Lenders said today that mortgages will remain hard to come by in 2011, as banks face a crunch caused by the need to pay back or refinance up to £500bn of their own debt.
The organisation stressed that even if demand for lending did pick up, lenders were unlikely ever to return to the easy mortgage days of 2000 to 2007 - when home loans were piled high and sold cheap as the credit markets boomed.
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