Mortgage News

Loan draw-down rates a mortgage industry challenge

Thursday 17th of October 2002

The hot topic in the mortgage industry at the moment is the very high level of loans which are approved but not drawn down.

Rob Tucker, immediate past chairman of the Mortgage Brokers Association, says the number of approved loans not being settled is running at between 40% and 60%.

It isn’t only mortgage brokers who are responsible fo...

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