Across the mortgage, loan, and finance industry, every day we are starting see more lenders softening their position given recent interest rate increases meaning pressure on existing borrowers to pay their mortgages and new borrowers to even secure a mortgage offer.
Given the expectation that inflation may start to fall back, and interest rate increases may slow down according to the Bank of England, lenders are making it easier on borrowers:
Comment
It is to be expected that lenders will soften their position if markets are stabilising. In addition, with property prices now falling, lenders will feel safer that they are not lending on overvalued property.