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Mortgage Express increases mortgage loan range

20th April 2005 | back to article listings BACK    print this article PRINT

It has been announced that the range of Mortgage Express' maximum lifetime mortgage has increased to a limit of £500,000 from £250,000 previously.

The increase is the result of growing demand from borrowers seeking to borrow beyond existing limits.

"Over the past ten years, the overall trend for the housing market has been that of increasing house prices," commented Roger Hillier, product development manager at Mortgage Express.

"As a result, people with properties at the top end of the market are seeking larger Lifetime loans. We expect this to continue to increase over the next few years."

Currently, the lender holds 30 per cent of the intermediary market and 20 per cent of the overall market. On average, the company's lifetime loan size has increase from £53,900 in quarter one 2004 to £70,200 in December last year.

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