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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`

High-end mortgages `not affected by credit crunch`

09/10/2007

Many high value mortgages in the UK have not been hugely affected by the recent credit crunch, according to an industry expert.

Due to the fact that most of those with high value mortgages will be on fixed-rate deals, the fluctuating financial market would not affect that sector of the market, financial advisors Bestinvest said.

The credit issue may have caused a "slight issue" of affordability for some in that sector but as interest rates have levelled out, there will be "no long-term lasting damage" to those in the high-value sector, Peter O`Donovan, mortgage manager for Bestinvest, claimed.

Mr O`Donovan added: "As things have now seemed to even out I think a lot of people will be looking for rates coming back down again, making things a bit easier."

Last week, the Bank of England decided to hold interest rates for the third consecutive month at 5.75 per cent.

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