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Lending to increase in 2009 - 13 February 2009

International mortgage lenders are set to maintain, and in many cases increase, their levels of mortgage lending and product availability during 2009 according to a survey involving 20 of Europe’s most active mortgage lenders.

The International Mortgage Outlook 2009 also highlights that lenders expect to see a recovery in the Sterling/Euro exchange rate in the near future which will reduce the sterling cost of overseas property at a time when interest rates are also predicted to hit historic lows.

Fiona Watts, Managing Director of International Private Finance who carried out the research comments ‘With interest rates falling; expectations that the Sterling exchange rate with the Euro will improve; and a strong appetite for lending from the major overseas lenders, the outlook for 2009 is far more positive here in the UK’

The key findings of the International Mortgage Outlook 2009 are that:

  • 80% of lenders surveyed expect to maintain if not increase non-resident lending in 2009

  • 90% of lenders expect to maintain if not increase the number of products available in 2009

  • 78% of lenders expect the £/€ exchange rate to be at 1.20 or above by the end of 2009

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