Another lender blaming bad weather for poor lending http://www.mortgagesolutions.co.uk/mortgage-solutions/news/2023965/santander-uk-s-gross-lending-drops-2010.
As a broker, on the front line, this is not true. CREDIT SCOREING is the reason why less lending was done last year.
CREDIT SCORING is a computer (that can be adjusted like a tap) that decides if you get a mortgage by taking certain variables and applying a point system to them. The more points the more likely you will get the mortgage but, THEY (the Lender) can change the points so, if you get 10 point for being self employed in January 2010 it is not inconceivable that you get 5 points for being self employed in Jan 2011. It is up to the lender and it changes often.
Use a broker for your next mortgage as we know the system and can advise as to what lender has a more or less generous point system.