Mortgage lenders ‘targeting better qualified people’

December 20, 2007 by admin  
Filed under News, News-Mortgages

The mortgage crunch has prompted mortgage lenders to target “better qualified people and lower risk people”, according to industry experts.

FirstRungNow.com said that products such as guarantor, professional, joint and graduate mortgages are now “coming to the fore”, as market conditions has made lenders keen to use these services.

Helen Adams, director of FirstRungNow.com, said: “The lenders aren’t necessarily put off by people being credit averse or being in debt despite the market conditions.”

Lenders have confidence that graduates and professionals will be able to pay their mortgages off, she said.

Ms Adams stated that lenders take a “holistic view” about earning versus debts and “won’t lend unless they think that the risk is reasonable to them.”

Scottish Widows, one of the leading banks in the graduate mortgage market, currently offers a 102 per cent mortgage to graduates.

This is open to all graduates of recognized universities under the age of 40.

Tags: age, graduate mortgage, debt, credit averse, view, guarantor, mortgage, averse

Related Entries

  • Don’t bodge it yourself (BIY)
  • Homeowners are being encouraged to avoid partaking in any bodge it yourself (BIY) over the Bank Holiday weekend.According to Halifax Home Insurance, we spend £607 million on repairing the damage we do to our homes
  • 2008 saw 30 percent drop in mortgages
  • Over the past twelve months mortgage lending has fallen by around 30 percent according to officials from the Council of Mortgage Lenders. This drop in mortgage lending has apparently resulted in lending falling to its
  • OFT launches campaign to stop loan sharks
  • For a number of years loans sharks have been causing much concern for campaign groups, finance industry officials, regulators, and consumers, with many people falling victim to the unscrupulous practices of unregulated lenders running dodgy
  • Mortgage lenders to pay out £200m
  • A large number of major mortgage lenders may be forced to reimburse millions of former customers after a ruling on unfair exit fees.It follows an ultimatum from the Financial Services Authority (FSA), which stated that
  • April sees drop in mortgage lending
  • The mortgage lending figures for April in the UK have suffered a fall according to recently released figures. The figures were released by the Council of Mortgage Lenders earlier this week, and showed that in
  • Mortgage lending hits lowest level in thirty four years
  • According to a recent report mortgage lending levels last year hit their lowest point in thirty four years, with figures at their lowest since 1974. The data comes from the Council of Mortgage Lenders, which
  • Lenders to start withdrawing 100% mortgage deals
  • Following the withdrawal of 125 per cent mortgage deals, many lenders are beginning to remove 100 per cent deals too, one finance expert has claimed. Moneyfacts.co.uk has said that 100 per cent mortgage deals are
  • Increase in mortgage availability could spell good news for consumers
  • A recent report has indicated that the number of mortgages on offer to consumers could be on the increase, and access to these mortgage deals may be getting easier, even for first time buyers in

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!