More than two thirds of brokers have been unable to source a mortgage for a client over the past two months.
Research by the Intermediary Mortgage Lenders Association (IMLA) suggest the lack of mortgage products is also leaving many homeowners facing repossession. IMLA’s survey found 68% of brokers have been unable to source a mortgage for a client since July. Brokers in the South East are finding financing more difficult to access, with over 70% unable to help a client. Tight lending criteria, including the need for large deposits, was cited as the major reason for finance being refused, while the lack of mortgage products was also mentioned as an important factor. However, the drought in fin...
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