Bank of England : Survey Reveals Mortgage Availability is Set to Improve

Hey friends, There is some good news from Bank of England, Bank of England survey revealed mortgage availability is set to improve in the coming months.this is a brief news direct from Bank of England new policy, or we can say new program. This program is almost perfect, Bank of England said, the survey comes as mortgage lending continues to remain subdued as first-time buyers, in particular, struggle to obtain a mortgage unless they have a substantial deposit. Three years ago, lending criteria has more tightened, as reported from financialmarkets, Since the credit crunch more than three years ago, lending criteria has tightened and homebuyers have struggled to get a foot on the property ladder, unless they have a deposit of at least 25%.

But however, according to the survey, all lenders were at their most optimistic for two years about the prospects for mortgage availability. Those questioned in the quarterly survey said they have increased access to loans for homebuyers with deposits of less than 25%. This regulation is under Bank of England policy, just for British people.