November 2007
Market slow down very evident
16th November 2007
Recent reports published by The Council of Mortgage Lenders has showed that the gross amount of mortgage lending is in decline. Reading into the report further shows that actual lending for remortgage has increased showing that new house purchases are showing a significant downturn. These figures twinned with the fact that the Bank of England decided to hold interest rates can only mean that this trend will continue as affordability continues to be limited. 1
1. http://www.cml.org.uk/cml/media/press/1395
Bank Of England Hold Rates
9th November 2007
The Bank of England have decided to hold rates at 5.75% this month despite many predictions that rates would drop. The question is what will happen next, with Christmas looming people will no doubt be borrowing beyond their limits – once again watch this space!
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