Mortgages for Buying New Homes Lowest since 1974
The number of mortgages taken out to buy new homes has fallen to its lowest level since 1974 according to the Council of Mortgage Lenders.Just 516,000 mortgages were taken out for purchase last year - that's down 49% on 2007 and is the lowest since 1974. Net mortgage lending fell by £39.7 billion in 20080 from 108.2 billion in 2007.
The Council of Mortgage Lenders warned that the current low levels of transactions is insufficient to fund an efficient market, blaing the fall in lending on a shortage of fundiing and a fall in the number of lenders. Commentators say that the mortgage market is unrecognisable from 2 years ago.
Quick House Sale Calculator
Fall Through Index
Refer a Friend
T: 0800 068 3366 
Email Us
0 Comments:
Post a Comment
Links to this post:
Create a Link