ear’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

With the property market itself still holding firm, despite threats of further interest rate rises, it is not surprising to see that the mortgage market is remaining equally buoyant. The recent interest rate increase from 5.25 percent to 5.5 percent has meant that a house owner with a ?100,000 repayment mortgage is now paying an additional ?16 a month.

Anyone who has stretched themselves too much with their mortgage may struggle to make these payments, but in the vast majority of situations this rise is not enough to have a noticeable effect and, even less likely, to change anyone’s mind on completing a house purchase.

Mortgage borrowing March 2007 ?31.3 billion
In fact, the Council of Mortgage Lenders announced that the total amount of borrowing in March 2007 was ?31.3 billion, a full 10 percent higher than in March 2006 and the most ever lent during one month. Of course, it is necessary to look at the net mortgage lending in order to get a truly accurate view.

Net mortgage lending takes into account any repayments, thus providing an accurate view of whether overall lending is going up or down. Figures from the British Bankers Association revealed that net mortgage lending was up by ?5.1 billion in March, yet another record and further evidence that the mortgage market is in a particularly good position, currently.

The Director General of the Council of Mortgage Lenders, Michael Coogan, recently spoke out about his predictions for 2007 stating: ‘There is still a question mark over just how strong mortgage lending will be over the coming months as the prospect of higher interest rates takes its toll on demand…but we continue to expect mortgage lending to reach a record ?360bn this year’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

e to make these payments, but in the vast majority of situations this rise is not enough to have a noticeable effect and, even less likely, to change anyone’s mind on completing a house purchase.

Mortgage borrowing March 2007 ?31.3 billion
In fact, the Council of Mortgage Lenders announced that the total amount of borrowing in March 2007 was ?31.3 billion, a full 10 percent higher than in March 2006 and the most ever lent during one month. Of course, it is necessary to look at the net mortgage lending in order to get a truly accurate view.

Net mortgage lending takes into account any repayments, thus providing an accurate view of whether overall lending is going up or down. Figures from the British Bankers Association revealed that net mortgage lending was up by ?5.1 billion in March, yet another record and further evidence that the mortgage market is in a particularly good position, currently.

The Director General of the Council of Mortgage Lenders, Michael Coogan, recently spoke out about his predictions for 2007 stating: ‘There is still a question mark over just how strong mortgage lending will be over the coming months as the prospect of higher interest rates takes its toll on demand…but we continue to expect mortgage lending to reach a record ?360bn this year’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

r lent during one month. Of course, it is necessary to look at the net mortgage lending in order to get a truly accurate view.

Net mortgage lending takes into account any repayments, thus providing an accurate view of whether overall lending is going up or down. Figures from the British Bankers Association revealed that net mortgage lending was up by ?5.1 billion in March, yet another record and further evidence that the mortgage market is in a particularly good position, currently.

The Director General of the Council of Mortgage Lenders, Michael Coogan, recently spoke out about his predictions for 2007 stating: ‘There is still a question mark over just how strong mortgage lending will be over the coming months as the prospect of higher interest rates takes its toll on demand…but we continue to expect mortgage lending to reach a record ?360bn this year’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

ge market is in a particularly good position, currently.

The Director General of the Council of Mortgage Lenders, Michael Coogan, recently spoke out about his predictions for 2007 stating: ‘There is still a question mark over just how strong mortgage lending will be over the coming months as the prospect of higher interest rates takes its toll on demand…but we continue to expect mortgage lending to reach a record ?360bn this year’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

ear’.

Other financial issues
Interestingly, despite the apparent willingness of individuals to borrow in order to obtain their dream mortgage, this has not been seen in other borrowing markets. Borrowers appear to have become considerably more savvy about the cost of borrowing and, consequently, the net amount of money borrowed through the use of credit cards with the major banks fell by ?117 million, in March 2007.

This impacts on the mortgage market in several ways. Firstly, it is possible that more borrowers are trying to use mortgage deals with introductory rate deals to consolidate other debts such as credit cards, in order to make monthly payments more tolerable. Secondly, as individuals get their unsecured debt under control, they are able to make more future plans and are able to commit to making larger monthly repayments. Thirdly, as individuals pay off their credit card debt, they gather a better credit rating, enabling them to make the most of the best possible mortgage deal which, in turn, encourages greater borrowing in this way.