The Council of Mortgage Lenders have provided us all with an upbeat review by upping their forecast for mortgage transactions this year. For the first time since 2008 they now believe that gross mortgage lending will pass the £200 billion level with transactions up to 1.23 million.

So despite many of the issues created by the implementation of the Mortgage Market Review, which is now largely behind us, the mortgage market at least looks to be driving forward.

As lenders gear up for a last quarter frenzy, with a big focus on Buy To Lets and remortgages, Woolwich are the latest lender to cut a whole series of rates in anticipation and re-introduce some remortgage specials.

In recent weeks, lenders including Accord Mortgages, Barclays, Hinckley & Rugby Building Society, Skipton Building Society and Virgin Money have announced cuts to fixed-rate mortgages.

As rates are unlikely to reduce further, the next battleground seems to be focussing on mortgage fees, which in recent years have become ever more expensive. The good news for consumers is that more products with low or even no fees, could be just around the corner.

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