The housing market is indeed benefitting from the Funding for Lending Scheme according to experts.  There were many critics that believed that while it was helping lenders keep borrowing interest rates low the funds were being reserved for only those that could meet large deposits or large equity demands.  Yet, lenders have become more competitive for the borrowers as it is a requirement of the scheme to keep the funding available and cheap. 

While lenders will remain tight fisted to keep borrowers from getting into loans they simply cannot afford there are many that will benefit from the scheme according to experts.  Lenders are expected to increase their lending efforts and currently there are mortgage loans that have fallen below 2% on the market.  While the best interest rates are reserved for those with large deposits as critics claimed it is helping to boost interest in mortgage lending.

Despite not being able to qualify for the lowest interest rate many homeowners looking to remortgage or first time buyers seeking approval will find that what they do qualify for if they do not have large down payments will still be quite attractive.  Even fixed rate deals are exciting for someone looking to cut down their monthly repayments or take on their first mortgage debt.

For those that have complicated mortgage or remortgage needs it could still be beneficial to consider working with a broker.  Brokers work for the borrower rather than the lender and can seek out the very best available deal from many lenders on behalf of the borrower.  They often have deals available to them that are not available to consumers directly.