Official industry stats show that while mortgage lending is down sharply in the UK over the last two years, banks from the likes of Sweden, Israel and China are now wanting a piece of the UK mortgage pie. Even though mortgage providers have fallen in number in the UK there are now more foreign mortgage lenders than for some time amid signs that many may be using the ongoing weakness as a potential opportunity to make a base in the UK.

There is no doubt that the UK mortgage and remortgage market is one of the most developed in the world and the UK property sector has been in the higher league of property markets for some time. Unlike many countries around the world the UK is predominately a home ownership country as opposed to rental which has created a stream of would-be home buyers in good times and bad times.

However, the recent announcement from the Council of Mortgage Lenders that mortgage lending has increased in both the home mover and first time buyer market will be welcome relief for those stressed out with financial difficulties who felt they had no-where to turn.

Industry experts believe that the UK is hot on the tracks of its European neighbours Germany and France as they move towards the recession exit door. Debt consolidation loans and remortgages should as a result become increasingly accessible and you should feel peace of mind that there are now more options available to you.

The British Bankers Association said mortgage approval rates had reached a 15-month high in June with 35,235 mortgage or remortgages taken out, the Nationwide Building Society confirmed that house prices rose by an average of 1.3% in July and Land Registry statistics showed house prices up by 0.1% in June, bearing out the trend that July was better than June.

In fact, the Council of Mortgage Lenders reported that mortgage lending had risen 17% in June 2009 and some £12.3bn was loaned to home buyers and remortgagers that month, up from £10.5bn in May. However, there is a note of caution that even June’s figure was only half that borrowed in June 2008.