9
Jul
Moneynet.co.uk welcomes new mortgage
One financial firm has commented on Nationwide's decision to bring
back the option of a 125 per cent mortgage for homeowners.
Moneynet.co.uk welcomes the fact the building society is helping
those who would normally be caught in negative equity to move
house.
It also assures people that this latest decision is "not a return
to the days where we saw similar loan-to-value loans available via
the likes of the Northern Rock Together product".
Although Moneynet appreciates that there is an element of risk for
the lender, the customers borrowing the money will have a good
track record with Nationwide to prove that they can afford monthly
repayments.
The website continues by saying that "these are far from normal
times in the housing market and it is a positive move from the UK's
biggest mutual".
Meanwhile, Paragon's Financial Advisor Confidence Tracking Index
has revealed that 58 per cent of financial advisors are expecting
to see an increase in mortgage activity over the coming
months.
