Getting mortgages ‘still tricky’

Trying to find new mortgages remains a tricky proposition for some, the Council of Mortgage Lenders (CML) has noted.

CML spokesman Bernard Clarke said that lower house prices have been prompting many people to consider buying, something he described as a “simple truth”.

However, he added, “sizeable deposits” are a major barrier for some, as are economic concerns such as the jobs market and uncertainty over future house prices.

But Mr Clarke rejected the idea that there should be incentives to help people get on the ladder, saying people should make that decision for themselves.

Earlier this month, the CML announced that lending had risen by 26 per cent in June compared to May’s figure, an increase from £12.7 billion to £16 billion.

However, it said, this was only evidence of a “modest” strengthening of the market and emphasised that the volume was still 36 per cent down on the same month a year earlier.

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