Tuesday, May 13, 2008

Kick in the teeth!

New mortgage lending falls by almost 50%

''...Mortgage lending to first-time buyers and existing home owners plunged by 48 per cent during March compared to the same month last year and is predicted to worsen throughout 2008. ...''

Posted by hpwatcher @ 10:12 AM (513 views)
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2 thoughts on “Kick in the teeth!

  • Every report coming out have such big numbers in them now. You never see a 2% or 3% or 5%. The people for whom the housing market is their bread and butter must be wondering what the hell has happened over the past 6 months.

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  • On the Truth about Property last night on BB2 it featured a guy who earned 50 grand a year who wanted to but a house costing 185…hardly reckless borrowing and as an experiment he approached but was turned down by every high street lender because he didn’t have the 20 grand deposit…the presenter who accompanied him was gobsmacked as she assumed even in the current market he was a shoe in. The guy laughed and just said he will just have to save up more and hope for more falls (very wise) but It makes you wonder just who is qualifying for mortgages these days and it must have sent a shiver through the Kirsty Allsops of this world..dying on its feet.

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