MSE News: More mortgages available but they're harder to get

Former_MSE_Guy · 2 February 2011 at 5:05PM

This is the discussion thread for the following MSE News Story:

"Lenders have become more strict when considering whether you can afford a home loan, though there's greater choice ..."

Read the full story:

More mortgages available but they're harder to get

shaunrc · 2 February 2011 at 9:18PM

Thanks MSE Guy

I spotted this although I am usually to be found on the pension forum. I write a blog on economics and wrote on Friday about what the Bank of England is doing which is likely to restrict mortgage supply and thought I would share it.

I have written before that I feel that this is going to be a hard year for the UK housing market. Please do not get me wrong it needs a downward adjustment but my fear is that this adjustment could accelerate in 2011 and there is a danger of it becoming something of a rout. I wrote an article elsewhere back in December about the Bank of England’s withdrawal of its Special Liquidity Scheme and the impact I feel that withdrawal around £9 billion per month is likely to have on the availability of credit in 2011 and in particular on mortgage finance. I feel more and more that this move was and is a policy error.

For those interested I write under http://noyayesmanseconomics.wordpress.com

In short I expect there to be issues about the quantity of mortgages available through out 2011.

MSE News: More mortgages available but they're harder to get

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