The majority of mortgage brokers are finding it difficult to find a loan for one or more standard status customers, a survey suggests.
The study, conducted by the Intermediary Mortgage Lenders Association (IMLA) also found 94% of brokers say their clients are having to pay more, while 92% say lending criteria is more stringent. IMLA found 55% of mortgage intermediaries had been unsuccessful in getting loans for at least one standard status customer since the onset of the credit crunch. Most intermediaries had only experienced this problem with a small number of customers. However, 12% have had 11 or more standard customers turned down, while 8% had more than 20 cases refused. Just 34% of brokers say they had no problem...
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