The Bank of England is putting 80 Billion into the banks to
lend to home buyers and business to help get our economy going. Now it looks
like the Pro-Austerity Measures Party in Greece have come out on top in their
election so perhaps the combination of these two pieces of good news will give
some buyers in the UK the confidence to go ahead and buy a property. Interest
rates are still comparatively low and prices may be set to rise if the mortgage
market is made a little easier. The biggest problem buyers have is getting
together a large enough deposit to avoid high set up costs and higher interest
rates. If the market can return to make a 90% mortgage available without too
many set up costs then that should help a lot.
I never fail to be amazed at how the sales results fluctuate
for no apparent reason. 2 weeks ago sales were great in a 3 day week with a
third of the work force on holiday. Last week most people were back and it was
a normal 5 day week yet the sales slowed up. Maybe we were worried about the
Greeks!
I think we all think too much about outside influencing
factors and if mortgages can be made more available then now is a great time to
buy. What else can you be waiting for?
Managing Director
Bradleys Group
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