More people looking to move house
October 2, 2009
Officials from a well known financial website have reported that consumer confidence in the mortgage and property markets seems to be growing, as it has seen a significant increase in the number of potential buyers that are enquiring about getting a mortgage.
The figures from the website have shown that there are now more people looking for a mortgage to buy a property than there are people looking to remortgage to a different deal.
Officials from the site said that the number of people that have been looking to get a mortgage to buy a home as been increasing since the start of this year. Since January there has been an increase of around one fifth in the number of people that are looking for a mortgage to buy a new home, but in the same period there has been a drop of one third in the number of people looking for remortgages.
One official from the site said that there had been a rise in the number of first time buyers, and also increasingly stable property prices could be a factor in this situation.
She said: “First time buyers who have saved a deposit and home owners looking to step up the housing ladder may therefore be looking to take advantage of the current low price environment with a view that prices cannot fall any further.”
She went on to say that news from lenders seemed to be more encouraging at the moment, adding: “HSBC has just broken the two per cent rate barrier with its new range of discount mortgages available to all with a big deposit. Although many other lenders have barely recognized the dramatic fall in base rates and have kept their mortgage deals relatively expensive there are some good deals to be had, so consumers should make sure they shop around to get them.”
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