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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Mortgage consumers `better informed than ever`

18/09/2007

Homeowners and those about to enter the housing market are now better informed than ever before about the range of mortgages on the market, an industry expert has claimed.

Increased media coverage and companies offering wide-ranging online sites have made consumers better aware of the financial market, a spokesperson for mortgage broker Charcol said.

The increase in popularity of the internet has created "less hassle" in the mortgage market, with consumers able to get information and quotes "all in one place". The spokesman said the market as a whole causes "less confusion" as more information is available.

He added: "The more knowledge the general public have about something, the easier it becomes to understand. The internet has made mortgages a lot easier to deal with. The better informed you are, the chances are you`ll make a better decision."

Statistics released by the Council of Mortgage Lenders earlier this month stated that the number and value of mortgages taken out by both homebuyers and those remortgaging fell in July.

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