Mortgage Lenders have always faced a tough battle to sell their products in an ever more competitive market and in recent years have looked to find more flexible ways of attracting borrowers.
It now looks like the tables are turning slightly as an article in the Daily Express Money Section suggests that more people have been turned down for a mortgage so far this year than in recent years.
The article comes on the back of a report written by MoneyExpert.com and says that 460,000 applicants have been rejected by lenders since the base rase was increased from 4.5 to 5.25%.
Keen on weather and Diana stories
I am wondering if this is anything to do with the underwriters having one eye on the sub prime market crash going on in the USA and trying to take measure to prevent it reaching the UK?
Either way, it is making mortgage marketing people's jobs a whole lot harder.