Figures Indicate Housing Trouble

Fri, 11 Apr 2014

Figures Indicate Housing Trouble
The property ladder is becoming increasingly difficult to get onto for first time buyers, according to new figures released by the Council of Mortgage Lenders.

The first time buyer's typical loan size in February was £119,000. People on the national average salary of £26,500 will have a hard time securing finance to get this level of loan.

One of the contributing factors is that many current homeowners do not want to move because of the fear they may well not be able to get a new home, causing the market to stagnate and prices to rise, at the same time that demand is going up.

The chief economist of the Royal Institute of Chartered Surveyors said that "It is a major concern that we are not seeing enough houses coming on to the market. For the market to operate effectively, we desperately need more homes in areas where people want to buy and live. Until this happens, we're likely to see prices continue to rise."

This ties in with Ed Balls' criticism of the Help to Buy scheme, that is does not promote house building or growth in the market, and will cause a housing bubble, and eventually, burst, leaving the taxpayers out of pocket, with nowhere to live.
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.

Note: For a free no obligation chat with an independant mortgage specialist about your requirements please complete ourmortgage enquiry form below.

Mortgage, Remortgage or Buy-to-Let Mortgage Enquiry Form

Stop Press: Find the perfect mortgage!
Lending criteria has been relaxed and our specialists can find you great mortgage offers to compare.
Our team do all the work to find you the best offer
We'll help you find the best mortgage for your needs and ensure that everything runs as smoothly as possible.
Deposits required are again falling
The cost of the best deals has dropped recently for those borrowing either 80%, 85% or 90% of their property's value
Independent, searching the whole market
With 1000's of mortgage products available our mortgage brokers will source the mortgage that suits your situation.
Please complete this quick, free enquiry form.


Your Details

Home Buyer Guides

Home Buyer News

Speak with an independant mortgage specialist

About Company is part of the SFN Network of websites. Sitefinders Net Ltd is a U.K based company setup in 1995. Our core business is the development of online businesses using the generic domain name concept. We have a growing portfolio of websites in many different industries such as electronics, finance, retail, seasonal and health.

Privacy Policy

Get in Touch