We have been rather busy recently at our Camberley office.
We have been finding mortgages for first time buyers and those who want to remortgage.
But according to the Council of Mortgage Lenders, not all advisers have been. It may be that prices have stabalised locally, despite the doom and gloom from city experts..
Here is there assessment from 14th June
“Loans for house purchase increased in April, according to data released today from the Council of Mortgage Lenders. But, with Bank of England data showing a fall in house purchase approvals in April, there could be a lull in house purchase completions in the next few months.
There were 40,900 loans, worth £5.9 billion, advanced for house purchase in April, up from 37,900, worth £5.5 billion, in March and down from 41,900, worth £6 billion, a year earlier. While this is a further increase compared to earlier in the year, house purchase activity is still below the level seen in April last year.
Remortgage lending fell in April. 24,700 remortgage loans were advanced, worth £3 billion, compared to 34,100, worth £4.1 billion, in March. This is fractionally higher than April last year.
With remortgage activity currently linked to expectations of interest rate movements, future activity will be subdued as an imminent increase in the bank rate is now looking less likely. There was also a fall in remortgage approvals in April so remortgage completions are likely to remain modest in the coming months.”
We like to think we are busy despite the current recession. A lot of our customers have been with us for years and have changed their mortgage (remortgaged) many times over last 20 years to onbtain different deals