I've been having an interesting conversation with David Allan at secured loan brokers Lending Expert.co.uk. We've been discussing the mortgage and secured loans market and how as more and more lenders are starting to come back and lend again, how we'll see the higher LTV - loan to value products come back together with more attractive interest rates and competition heats up.
It' the 95% mortgage products, in my opinion that will really boost the housing market and will make it possible for 1st time buyers to get on the housing ladder. This in turn will then have a knock on affect for everyone else looking to buy and sell their homes.
David said that the secured loans market has seen a real boost in 2003. More lenders have entered the market and better rates at higher LTV's are available for those with a good credit rating.
We were both in agreement that things have started to pick up for both those looking to buy and those needing to sell. This should in turn have a positive impact on the economy and hopefully we'll start to see an end of the recession going into 2014.