Mortgage Recovery
Green Shoots?
I promise - it is not all “Gloom and Doom” and spring sees signs of new life in our economy starting to show. In March this year we saw nationwide house prices increase for the first time in 6 months, whether this continues has still to be seen, but it’s a start. This is good news for mortgages especially first-time buyer numbers have increased 40% since the turn of the year according to HM revenue and customs as would-be purchasers take advantage of the drop in-house prices and a “buyers market”. These figures have also been boosted by a 16% increase in mortgage application approvals according to the Council of Mortgage Lenders. The change in statistics may show government forced drops to the bank of England base and subsequent quantative easing policy have kick started the slow process of economic recovery but only time will tell.
Tags: mortgage broker, mortgages