Tag: Paul Broadhead
Due to high house price inflation, tighter credit conditions and low wage growth people are expected to only buy their first home in their late 30s and 40s – and with longer mortgage terms to boot.
Almost half (49%) of consumers expect house prices to rise in the next 12 months, with just one in 10 (10%) expecting them to fall.
Lending in 2016 was higher than in 2015 with mortgage approvals up by 13% according to the data.
In today’s housing white paper, Fixing our broken housing market, the government pledged to support a joint working group with lenders and valuers to make sure mortgages are readily available.
Some 12% of respondents to a Building Societies Association survey said they were more likely to purchase a property now than they were at the beginning of the year.
The conference for lenders and brokers will feature Robert Sinclair.
Analysis published yesterday by the thinktank highlighted a fall in home ownership across England.
Figures from the Building Societies Association show societies approved 109,600 mortgage loans in Q1 out of 347,000 across the whole market.
Building societies upped gross mortgage lending by 8% in 2015 to take a 26% market share, figures from the Building Societies Association have found.