Mortgage lenders 'struggling to cope'

Some mortgage lenders are finding that the level of demand is excessive, it has been revealed.

John Charcol, an expert in the field of mortgages, said that falling swap rates have lead to some excellent deals being available.

Some of the fixed-rate mortgages on the market are currently in good shape, but borrowers have been advised to ensure they give themselves enough time to apply.

The company commented: "There are some good products available, but the very nature of their quality means that popularity is proving difficult for lenders – they cannot cope with the volume."

It also suggested a number of mortgage lenders that borrowers may wish to examine more closely.

Yorkshire Bank recently claimed that haunted houses could be a good bet for first-time buyers.

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