Mortgage lending is expected to improve

More mortgage lenders should come back into the market by the end of the year according to Lloyds TSB, which is good news for all the people who are looking to buy a property.

A lot of banks have taken a back seat with mortgage lending, but the market is now expecting an increase in the number of mortgages approved.

Cheltenham & Gloucester, owned by Lloyds TSB, have increased its share of net new lending by 15 percent, they continued offering mortgages since the beginning of the credit crunch whilst its rivals pulled back lending.

Cheltenham & Gloucester always had sufficient liquidity to keep lending as they never offered high risk mortgages such as 100 percent loan to value mortgages and buy-to-lets.

Although not such great news, the figures out yesterday from the Bank of England showed that total mortgage approvals in the UK are down by two thirds in the year to June.

Source: Telegraph

Read more about UK mortgages here.