Destruere

January saw a large increase in mortgage lending. Despite the credit crunch Mortgages were up 11%
This could just be the fact that December is typically a slow month for mortgages and I know from my search experience, January is always a very busy month. I don’t have a client that doesn’t get busy over the January period.
The housing market is currently in turmoil with the credit crunch and a big rise in utility bills such as gas or electric. Moving costs are high and for first time buyers its very difficult to save up the deposits required to secure a mortgage on a acceptable rate.
The 11% increase from December is still lower than most months throughout 2007 and December was one of the lowest months for lending over the past two years.
My opinion on the housing market is that it’s too tough to get into. The UK has it very bad with it almost impossible for average first time buyer able to muster up enough deposit and even once they get a house people only seem to be able to just be able to live in a house with no real life style improvements. A lot of my friends have truggled to get onto the property ladder.

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