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new entrants in the mortgage market
foreign banks are beginning to offer mortgages on UK properties - we predicted this trend in the July issue of our PROPERTYtimes see http://www.youhome.co.uk/property_times. The consequences of this is that we will begin to see UK banks reverse the trend they have been following and they should start to decrease their lending margins as competition increases. After all, since property prices have fallen substantially, lending today should be more secure than the lending made one or two years ago and banks with good balance sheets will be increasingly open for business. This will be welcome news for the home-buyer. Further details can be found at http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6727441.ece.
© YOUhome® Published 27/07/2009