Mortgage news for home buyers in Surrey and Hampshire
According to the latest figures released by the Bank of England on Friday, October 29th showed that residential mortgage approvals remained low in September 2010. The data suggests that UK housing market is still fragile and might not be ready for another quantitative easing (QE) planned to be implemented by the national bank.
As such, the statistics published by the Bank of England demonstrated that the number of approved mortgage fell from 47,498 in August to 47,474 in September. Although the decrease is not dramatic and is clearly more positive than experts’ expaectations, it is nonetheless a decrease.
In the opinion of Hetal Mehta of Daiwa Capital, the low level of mortgage approvals is due not only to restricted lending policies, but also to subdued demand of UK borrowers.
Financial experts expect the situation on UK mortgage market to worsen in 2011 as government’s cuts will come into force.
(Source: E1 BTL Finance)
