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21st March 2007
It still Record Mortgage lending In February 2007
The Council
for Mortgage lenders have reported the highest ever figures for
lending in February. Lending was 24.6 billion up 9 % on February 2006.
Although this amount is some 7% lower than January 2007, it does
indicate that at least for the moment, there is continued confidence
in the UK Housing Market. The continued spectre of interest rate rises
appears to be having little effect and there seems to be little
dampening of enthusiasm for
property purchase, many people believe that if they don't
get on the property ladder now they never will. This factor coupled
with the continuing interest in
buy to let purchase is keeping the
housing market buoyant.
Of course, interest rate increases take a little to to filter through
to the markets and we may now be seeing property prices peaking. The
next few months will be very interesting, although the economy appears
to be in good shape and unemployment stable, if continued interest
rate rises start to dent confidence, we may see borrowing taper off a
little and property prices whilst not expected to fall may become a
little more stable
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Copyright Assetsure Limited 2007
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