Moneyfacts.co.uk's loan information numbers suggest mortgage market is to continue recovery
The financial website has predicted further improvements in the mortgage market in 2010.
The latest loan information figures from moneyfacts.co.uk have revealed that the UK's mortgage market is set to continue its steady recovery this year.According to the website, the number of home loans available since the start of 2010 has increased by 20 per cent.
Further to this, moneyfacts.co.uk claims that there has been a 26 per cent rise in deals offering up to 90 per cent loan-to-value.
The housing market is, therefore, a more attractive proposition for first-time buyers.
Darren Cook, spokesman for the financial website, said: "An improved broker market paired with recent cuts in some rates to direct customers could indicate that lenders are opening their doors just a little wider."
Mr Cook also explained that the remortgage market could see a revival if standard variable rates continue to rise.
Meanwhile, a mortgage expert has tried to calm worries that a funding gap may emerge in the sector.
The Council of Mortgage Lenders (CML) recently claimed that the collapse of wholesale funding markets had left a £300 billion gap in mortgage lending.
In addition to this, the CML said that there was uncertainty regarding what would happen once the government's special liquidity scheme expires in 2014.
However, the mortgage broker firm Alexander Hall stated that this assessment was based on a negative outlook and that lenders were, in fact, feeling good about the future.
Posted Rosie May
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