February 5, 2010
Home Buyers See Mortgage Options For 2010
The British perception of the mortgage market is softening in 2010 and many more people may be considering mortgage finance this year.
Research from Unbiased.co.uk has found that consumers no longer expect house prices to fall and only 3% are holding off buying a property until prices have fallen.
Also, despite over half of people saying that house prices wouldn't recover until late 2010 onwards back in January 2009, nearly a third of Brits now say that house prices are starting to rise and 18% say that they have reached their lowest level.
Karen Barrett, chief executive of Unbiased.co.uk says: "The last year has seen a real shift in the attitudes of consumers towards buying a house. No longer are potential homebuyers biding their time until house prices have fallen. They are now looking to buy and gathering the means to do so.
"Despite strict lending criteria and the prospect of increasing house prices, people are also still prepared to negotiate the value of their home down from the asking price although their expectations may be slightly lower.
"With interest rates holding at an all time low consumers are seeing the importance of getting the right mortgage now more than ever. Those buying a new property, but also those looking to remortgage, will benefit from seeking professional advice on the whole of the mortgage market to get the best mortgage deal for their circumstances."
SOURCE: Unbiased.co.uk, 01/02/10
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