Jill Smith comments on the Bank of England's unveiling of its Funding for Lending Scheme:

Last Month, the governor of the Bank of England announced the potential injection of £80bn investment into lending funds for consumers and businesses, to be used for mortgages, as well as loans to small and medium enterprises, and personal unsecured loans.

The scheme will officially commence on August 1st, meaning that banks will soon have access to a significant pot designed specifically to lend to home buyers.  The rates banks and building societies will get on this funding will also mean that they will be able to make loans cheaper and more easily available.

Borrowers should also feel the effects of an increased willingness and desire to lend on the part of UK banks and building societies, as access to the scheme will be directly linked to lending levels.  This means that increased levels of mortgage activity will benefit not only the borrower, but the lender as well.

If you have been waiting for the right time to get on the property ladder, it may well have arrived now.  There couldn't be a better time to speak to an independent mortgage adviser about buying a home.

To arrange a meeting with our independent mortgage adviserto discuss your circumstances, contact us on 01782 664995 or visit us online for more information at... www.heywoodsproperty.co.uk/mortgages.htm

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