MyMortgageDirect professes confidence in mortgage market

Date:Friday 3rd September 2010
Author: Max Freedman

There could a positive future for the mortgage market, according to MyMortgageDirect, but it will require a spark of confidence.

Director of MyMortgageDirect Catherine Hearnden suggested that the doom and gloom surrounding the housing market makes the sector vulnerable to becoming a self-fulfilling prophecy.

In her view, the public tends to be swayed by what the media is saying, although she stressed that the whole economic situation is not down to this factor.

However, she suggested that a little bit of confidence in the mortgage industry could allow it to flourish, predicting there could be a steady rise on the cards if this were to be present.

"There will be the odd dip but we shouldn't read too much into the odd dip because we've always had seasonal dips anyway," explained Ms Hearnden.

Recent figures published by the Council of Mortgage Lenders indicated that gross mortgage lending reached £13.6 billion in July.