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Meanwhile, the number of loans with a 90 percent credit-to-value ratio has increased from 244 to 261 since the beginning of the year, 95 percent from 31 to 37 and above all 100 percent of home loans from only 8 to 17. However, there are already powerful signs that the good mortgage good will not last.
"Following a year of declining interest in 2011, we have only just begun to see interest increases in recent months, especially on trackers and a few short-term - 2 or 3 year - fix interest rates," said Mr Boulger. "Financing transactions on the financial market, which creditors are relying on to finance their lending, have begun to rubberize again.
Loans granted at a concessional interest are widely seen as an offer to support banks' balances and allow them to grant each other loans and avert another squeeze on them. However, not everyone is in agreement that the subprime lending markets are heading for a cooler 2012:
Murphy added that loan approval requirements could be further eased in 2012 - much tighter than before the squeeze - partly as a result of new entrants: These things can all only be positive for the markets in 2012, and as long as the Euro -Zone crises does not lead to a renewed squeeze on loans, we should prepare for a very good year," Murphy said.
Yet, the risks raised by the euro zone are causing many experts to suggest that now is the time to chase out a good mortgages agreement instead of sitting on your hands and waiting whether you are thinking of moving home or looking to remortgage: "Looking at the euro zone, it is such a huge area of insecurity that borrower will have to ask themselves whether they want to blow the whole thing up and make the good mortgages that currently exist disappear in the twinkling of an eye.
"Even though some short-term fix rates have gone up, there are still some very good five-year fix rates and life-time trackers still in existence. There is currently a lifespan tracking mortage offered at 1. 89 percent above the Bank of England prime lending rate, which can be considered highly favourable if 2012 continues, and don't lose sight of the fact that the 2007 and 2008 experiences have shown that if issues arise in the lending market, there tends to be only a brief delay until it leads to the interest rates likely to be paid by individuals on their mortgages".