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More people are getting hold of a mortgage as new figures show activity in the mortgage market is steadily increasing across a variety of borrower profiles – the spring homebuying season has kicked off strongly and looks set to continue.

According to Moneysupermarket.com, borrowers going online to look for a mortgage has gone up a third in the last month – things haven't improved entirely, but more banks and building societies are offering more home loans to borrowers.

Hannah-Mercedes Skenfield, mortgage channel manager at moneysupermarket.com, says: "We saw an instant spike in activity amongst those looking to buy their first home in the week following the Chancellor's announcement on stamp duty in the Budget and we did wonder whether this would be a kneejerk reaction that might not be sustained.

"However, we can clearly see from our numbers that momentum remains high, and this has spilled over into other homebuyer profiles. What's more encouraging is that rates seem to be improving continually, so people looking for a mortgage should find themselves able to access some pretty good deals as we head towards summer."

Just because the thaw in the mortgage market is helping out more borrowers, it isn't time to get complacent. Although competition seems to be returning to the mortgage market, there are still products with low rates but high fees, and some of the best deals are only available to people who have a large deposit.

To get through the mortgage minefield talk to a mortgage adviser about what is out there for you and what you have to do to get it.

SOURCE: Moneysupermarket.com, 14/04/10

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