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.
