Lenders cracking down on Interest only

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CoverItAll

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Joined: Fri Mar 09, 2007 12:19 pm
Location: United Kingdom
Post by CoverItAll » Tue Jul 08, 2008 11:09 am
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Lenders are cracking down on customers applying for interest-only mortgages with fewer applications being approved, analysis from Mform.co.uk shows.

Figures from the Council of Mortgage Lenders, which compare January to April 2008 with the same period last year, show that 20,400 interest-only loans for house purchases were approved this year compared to 31,300 in 2007.
John Tegg
john.tegg@dms4asu.co.uk
http://www.paymentcover.co.uk
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