'Momentum is high' in the mortgage market

Date:Thursday 15th April 2010
Author: Max Freedman

There appears to be plenty of momentum in the mortgage market at the moment, both from lenders and borrowers, according to moneysupermarket.com.

The price comparison site recently revealed that the number of people using its service to look for a remortgage deal has risen 29 per cent, while the number of first-time buyers has gone up 17 per cent.

Hannah-Mercedes Skenfield, mortgage channel manager at moneysupermarket.com, noted that there was an initial spike of activity after the chancellor's Budget, but it has not proved to be a kneejerk reaction.

"We can clearly see from our numbers that momentum remains high and this has spilled over into other homebuyer profiles," she commented.

In addition, Ms Skenfield claimed that rates are continually improving in the market, which means that people may be able to find themselves a good value product over the next few months.

She recently described offset mortgages as an "extremely attractive option", but said they are more suited to people with plenty of money saved up.