Mortgage expert: The more competition, the better
Monday, 08 February 2010 11:03AM
Mortgage expert: The more competition, the better
Three or four new banks will launch this year, the expert revealed, which may help to improve competition and encourage existing lenders to up their game.
He continued: "It is all about the underlying funding ability of mortgage lenders.
"Because Santander doesn't need to really go to the markets to get its funding, it is able to offer better deals."
The Council of Mortgage Lenders reported on January 21st that gross mortgage lending in the previous month reached an estimated £13.7 billion.
This is up 14% from £12.1 billion in November 2009 and up by 3% compared to December 2008.
Posted by Martin Ellis
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