Mortgagebrokers say they are encountering fewer difficulties sourcing products now thanat any time for three years. 

Researchfrom the Intermediary Mortgage Lenders Association suggests almost a third ofbrokers reported that they encountered no problem sourcing a mortgage for anytype of client in the second half of 2016 – up from 26 per cent in the firsthalf of the year, and double the rate recorded a year earlier in the first halfof 2015. 

IMLAsays this is a clear reflection of improving lending conditions.

Brokersalso reported a rise in successfully sourcing mortgages for different groups ofborrowers.

Sofor example the number of brokers who said they were unable to source amortgage for first-time buyers fell from 29 per cent in the first half of 2016to 16 per cent in the second half of the year, while the proportion who wereunable to source a mortgage for standard status borrowers also fell from 26 percent to 15 per cent over the same period.

Conditionswere also reported to be softening for borrowers who sit outside of themainstream mortgage market. 

Therate of brokers who were unable to secure a mortgage for borrowers who areself-employed or have irregular incomes fell from 50 per cent in the first halfof 2016 to 25 per cent in the second half, while the rate for those unable tosource mortgages for interest-only borrowers fell from 52 per cent to 31 per cent.

Therewas also a substantial fall in the rate of brokers who were unable to source amortgage for borrowers looking for mortgages lasting into retirement, whichfell from 43 per cent in the first half of the year to 29 per cent.

Readmore on the Estate Agency Today website https://www.estateagenttoday.co.uk/breaking-news/2017/4/good-news--easier-to-get-mortgages-now-than-any-time-since-2014