Your Mortgage Awards

Click here for the Your Mortgage Awards Supplement 2012,listing all of the winning lenders and providers.

Mortgage borrowers and lenders alike had another difficult year in 2012, with ongoing economic uncertainty and funding challenges continuing to restrict the mortgage and housing markets. Massive Government spending cuts and concerns regarding the future of the eurozone continue to undermine consumer and business confidence.

Lenders have little appetite for risk, although the number of higher loan-to-value mortgages sought after by first-time buyers has been picking up. Some lenders have also been proactive in introducing innovative guarantor deals for first-time buyers, and schemes which allow family members to help out. However, with lenders continuing to insist on squeaky-clean credit records, getting hold of first-time buyer homeloans remains difficult for many.

Interest rates, and mortgage lenders' standard variable rates, remain at an all-time low, which has been a great relief for borrowers, in many cases keeping the wolf from the door. But with rates possibly set to rise at some point next year, many borrowers are wary of taking on too much debt.

Indeed, British homeowners have paid off a record amount of mortgage debt in the last 12 months, taking advantage of the low interest rates. Happily, the buy-to-let market recovered strongly in 2012, with a number of established players returning to the sector and some new entrants launching products too, all of which increases consumer choice.

Winning a Your Mortgage Award in these challenging conditions is a highly impressive achievement, and all of this year's victors deserve particular praise for their ongoing commitment to mortgage borrowers. The winners of this year's awards wil be announced on 28th November

Paula John

Editor-in-chief

Click here for the Your Mortgage Awards Supplement 2012,listing all of the winning lenders and providers.