After a bad year for the housing and mortgage market, what does the second half of 2009 hold in store? The Council of Mortgage Lenders expects gross mortgage lending in 2009 to reduce from £258bn to £145bn.
CML also predicts net lending to be negative as homeowners scurry to repay mortgage debt and banks look to balance the interests of savers and borrowers.
Of course, lower house prices and interest rates also present opportunities.
How would you like to pay off your mortgage early? Well, one way you might achieve this is with an offset or current account mortgage, a mortgage offering much flexibility to homeowners. One symptom of the continuing credit crunch is the severe lack of available mortgage products from which to choose, but Mortgages SK12 may have the answer. They can search the whole market to get you the right mortgage for your circumstances. Give them a call to discuss how they can save you money on your mortgage.
Telephone: 01625 875352 or email: contact@mortgagessk12.co.uk
(Source: CML 18 December 2008).
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