Wednesday, October 27, 2010

Reality beginning to hit home on the EAT site…

House buyers sit on their hands as mortgage levels drop

Jonathan Samuels, CEO of specialist lender Drawbridge Finance, said: “The latest figures from the British Bankers Association in regard to mortgage lending are a reflection of just how cautious consumers have become."

Posted by rantnrave @ 12:30 PM (1513 views)
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5 thoughts on “Reality beginning to hit home on the EAT site…

  • ““Despite falling house prices and some very competitive mortgage products, creating almost ideal buying conditions, borrowers overall are continuing to sit on their hands.”

    lol what rubbish

    1) who wants to catch a falling knife?

    2) big deposits and strict lending mean less people are able to borrow

    so that is what they call ideal?

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  • sibley's b'stard child says:

    Drawbridge Finance – guffaw – the jokes write themselves.

    “Significantly, there is no reason to expect finance to become more freely available in the near term and, quite possibly, for some time to come, which points towards the emergence of a new reality in the housing market”.

    Oh well, the bulls got their new paradigm; just not in the way they anticipated.

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  • Looking at the EA comments, they’re like cats in a bag. Claws & fur going all over the place.

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  • FallING pricesdon’t make for ideal buying conditions, fallEN prices do. And when they’ve fallen, we’ll buy. My 2 year old is brighter than this guy.

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  • With so much stagnant property on the market, now is the time for the braver agents to advise their clients to reduce significantly. It will take some balls but the winners in the early 90s were those who built a reputation for achieving sales at realistic prices. There’s only one thing wrong with a property that won’t sell, its the price.

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