Peter Rollings managing director of estate agent Marsh & Parsons, said:
“The CML lending figures for June paint a positive picture and 12 consecutive months of year-on-year growth in home loans shows the market is moving in the right direction. Buyers without a large deposit are still facing significant difficulties in securing a mortgage, but many buyers in the central London property market can afford to put down at least 30%, for instance, which is helping to maintain demand and boost activity.
“Speculation about rising interest rates is mounting in response to higher than expected inflation and more homeowners are now choosing fixed rate deals. However, the coalition government has stressed that low interest rates are crucial for economic recovery and it’s likely the base rate will stay low until at least the middle of next year.”
See Also: Property News (8683), Marsh & Parsons (1), CML (4), Council of Mortgage Lenders (14)
Date Published: 11 August 2010
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