Loans Scotland

First it was was taper relief, now self-employed entrpreneurs are going to find mortgages tricky to access. Its time to jump ship to the public sector.

The Mortgage Lender (TML) found that a quarter of mortgage applications from the self-employed and those with poor credit histories, though accepted even a couple of months ago, would most probably be turned down today. This reflects a new mood of caution among mortgage lenders about people they define as high risk, as concerns mount over bad debts following the collapse of the sub-prime mortgage market in the US.

Some British mortgage lenders are now requiring new borrowers to put down a larger deposit than has been the case in the recent past before they will advance any money on a property.

Fear not though, this market is so competitive that lenders will come back to the feast as soon as the credit crunch is forgotten.

Trackback URI | Comments RSS