HSBC Survey Claims Mortgage Finance Is Readily Available
A report by HSBC into the UK mortgage market has thrown up some rather strange results with the company claiming that far from finance being a problem for the housing market, 98% of those looking to buy have had no problem arranging a mortgage. It seems as though a lack of confidence in the property market, the economy and concerns in the area of employment are of more concern to potential property buyers. But can this be true?
While the survey facts and figures are there for all to see there is a sneaking suspicion that mortgage finance is not as readily available as HSBC might have you believe. We have seen the headlines of falling rates but behind the scenes we have also seen the increase in deposits required. The two just do not go hand in hand as elements which will help the market.
Maybe we are seeing a turning of the tide in the mortgage market, maybe finance is more readily available but until house prices at least level off this theory is unlikely to be put to the test. There are still many elements which are weighing down on the property market with little likelihood of a short term change in the situation.
Share this..
Related stories
Northeast builder issues challenge to the Treasury
In a move which will no doubt catch the attention of first-time buyers in the north-east of England, Meadowcroft, a housing company in the region, has announced plans to offer financial assistance to first-time buyers. The company already offers a significant advice service regarding the various government rescue packages and mortgage schemes available, but they now believe it is time to go one st...
Read MoreNationwide shocks the UK mortgage market
Despite promising that Nationwide mortgage holders would never pay more than 2% above the Bank of England base rate, one of the U.K.'s best-known mortgage providers has turned about face this evening. From Thursday those applying for a mortgage with Nationwide will not be able to take the base mortgage rate which is currently 2.5% and will instead be passed onto a new standard mortgage rate which...
Read MoreBank shares fall amid stress test worries
Even though just 24 hours ago it was claimed that the stringent stress tests being carried out by the Financial Services Authority (FSA) would at the very worst secure the future of the UK banking industry, many analysts have changed their minds overnight. While the criteria released by the FSA were deemed to be overcautious and effectively worst case scenario, many analysts believe on reflection...
Read MoreTax affairs of BBC higher earners questioned by authorities
It has been revealed that a number of high-profile and highly paid presenters at the BBC are officially employed on a freelance basis despite the fact that they are for all intensive and purposes full-time members of staff. It is alleged that a number of these high paid presenters have set up their own private companies into which their income from the BBC is paid in order to take advantage of mor...
Read MoreDo I need a pension?
Many people don't take the opportunity to arrange a pension plan. There are other things in life, particularly at a young age, which people would find more important than organising a pension. This is perfectly normal, but a major role of a financial advisor is to ensure the protection of a person’s long term financial future, and starting a pension scheme is one way of doing this.
I...
Read More