A recent report on UK mortgages has indicated that there has been a significant increase in mortgage lending to UK customers. There is a big health warning on this though: that this is an increase on a very small number, since versus a couple of years ago the mortgage market in the UK, as in many other parts of the world, has still substantially collapsed. This is however a small piece of positive news.
There will be mortgage analysts asking if this is a result of the various actions that the UK government has taken, such as the highly controversial nationalisation of Northern Rock, which has started promoting Northern Rock Mortgage products again.
In summary, this is positive news, but let us not get carried away, there is a large amount of bad news still out there.
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