New Mortgage Drought To Hit House Prices
Published on March 17, 2010 | Author: admin
What does it mean for home sellers?
Property prices are expected to fall after the general election as unemployment and mortgage shortages continue to rise. Since Halifax announced the 1.5 per cent fall in houses prices in February many economists have agreed that the fall in recent mortgage approvals is slowly suffocating the market. Experts have also suggested that a second wind of mortgage rationing will hit later on this year could continue to cause further decreases in property prices.
Mortgage brokers believe that if mortgage rates do not rise over the next year, the Bank of England will be forced to increase its base rates from its current level of 0.5 per cent. This will cause increases in costs to all types of borrowing proving another dent in the housing market, even for homeowners who are on very low mortgage repayments.
Lack of funds from lenders is to wipe out homebuyers. Can you sell your house fast enough before this happens? Quick Cash For Properties are one of those companies that buys houses and always have a solution. Call us on 0800 6528 396 now.