"Lack of funding" available to mortgage lenders

"Lack of funding" available to mortgage lendersfirst-time buyers are being told that they will continue to face a difficult time, with an ongoing "imbalance" between house prices and average incomes.

Writing for Mortgage Strategy, Steven Marks - intermediary services executive for Newcastle Building Society - said that the cost of a home in the UK is generally nine times more than the median salary of the potential purchaser.

He argued that the lack of mortgage availability remains a "serious issue", as well as the shortage of funds that lenders have at their disposal.

Last month, the Federation of Master Builders' director of external affairs Brian Berry warned that the state of the home loans market is affecting the construction industry and the number of new build places being erected.

Comments that mortgage availability to customers continues to be an area of concern for the housing market and funding remains a problem for lenders may encourage more people to consider looking for property to rent in the London borough of Epping Forest or elsewhere in the country.

By Andy Britten

Published 8th June, 2010

© 2010 Estates IT Limited

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More people may be interested in looking for property to rent in the London borough of Epping Forest or elsewhere in the country after a mortgage expert suggested the availability of home loans remains a "serious issue".

"Lack of funding" available to mortgage lenders

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