16
Sep
'There is demand' for properties
There is demand for houses, despite claims to the contrary from
estate agents, according to one property expert.
Paul Holmes, chief executive at mortgage brokers Firstrung, which
specialises in highlighting financial and buying solutions from
traditional sources, said that banks are not lending as much and
that at the property-buying peak of three years ago, there were
120,000 properties sold.
His comments come amid claims that lenders are treating consumers
unfairly, following the release of a statement from the Council of
Mortgage Lenders, which suggested that comparing the Bank of
England base rate directly to mortgage rates was "utterly
misleading".
"The banks aren't stupid and neither are the governments that back
them -tthey know that a return to [the previous property market
situation] so early on would be an absolute disaster," stated Mr
Holmes.
In related news, Countrywide reported yesterday that their most
popular mortgage product over the last three months stood at 6.49
per cent.
