Thursday, April 21, 2011
Overpriced new-build, meet risk averse lending.
*One can always rely on Houseladder for plum comedy pieces* Discrimination is harming the new homes market, it has been claimed. The new homes market is being hampered by lender discrimination, it has been suggested. Vernon Pethard, managing director at newhomesforsale.co.uk, said price growth in the sector has been restricted because of fragile confidence and general bias against new build homes. The representative noted: "The prudent attitude adopted by mortgage lenders towards new homes is not helping matters." He explained such discrimination is coming in the form of lower loan-to-value mortgages being offered on re-sales and brand new properties.