Jump to content
House Price Crash Forum
Sign in to follow this  

Cameron Hometown Booms As Easy Finance Raises Prices

Recommended Posts


Peter Saunders had to stretch his resources to buy a house this year in Prime Minister David Cameron’s constituency town of Witney, where values have risen at twice the U.K. average over the last three months.

The 27-year-old hotel manager said he needed money from an inheritance as well as a mortgage to afford the 200,000-pound ($325,000) Witney home in Oxfordshire. The market town, which has a 13th-century church at its center, is surrounded by rolling hills and farms. Oxford, 13 miles away, is even more expensive, he said.

Cameron’s efforts to spur the economy by supporting mortgage lending are fueling price increases across the country, prompting buyers to extend their credit and leaving them vulnerable to interest-rate increases. People purchasing a first home in the U.K. are borrowing 3.4 times their annual income on average, matching a record set in August 2007, according to data compiled by the Council for Mortgage Lenders.

“Witney is a bit of a bubble,” Saunders said. “We kept hearing in the news about how the Bank of England is feeling more positive about the economy and how interest rates might rise quicker than expected, so we went with a five-year, fixed-rate mortgage.”

Clear signs of recovery....

Share this post

Link to post
Share on other sites

Get in quick before you miss out.

I see in the news the Irish have sorted themselves out....it seems actually cutting spending, paying back debts and letting house prices collapse might have been the way to go.

Share this post

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   224 members have voted

    1. 1. Which of the Prime Minister's options would you choose?

      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.