Monday, Oct 12, 2009
Dips = Down positively
BBC News: Mortgage lending dips in August
"House purchase activity has revived from its moribund state at the beginning of the year," said the CML's economist Paul Samter, contradicting the headline.
Posted by cynicalsoothsayer @ 10:01 AM (574 views) Add Comment
3 Comments
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1. mark wadsworth said...
Tee hee, average deposit required on FTB mortgages now 25%. That ought to get prices down a bit. Problem is, the local council will lend you a 30% deposit "interest free" (for the first few years). Net impact on house prices = nil.
2. Zebbedee said...
What I liked was the Pravda ticker said mortgage lending dipped slightly then the article says "fell slightly", a 5 % drop isn't slight in my opinion!
3. Lovemyhome said...
Are you on the housing market yet? It costs money and its expensive. It takes a few years to feel the benefit and it is not a quick return like it has been before. There is the homebuy scheme, 30% more or less part rent part buy and if you are a keyworker you can get a deposit which you need to pay rent on. In my location I dont know any council offering 30% deposits for nothing. Many young people are desperate to get on the housing market because most feel it makes more sence to buy than rent. Prices will not go any lower, there are too many people like myself unwilling to lose out because of hard work and saving. FTBs need an opportunity but need to save!!! Thats why prices will not change for a while.