Mortgage lending 'will not shoot up'
The number of financial institutions willing to lend significant figures for the purchase of commercial property has increased recently, however, such lending is unlikely to "shoot away again", one sector commentator has claimed.
Kelvin Davidson, property economist at Capital Economics, said: "[Banks] are still willing to lend much less than they were two or three years ago and the money that they are willing to lend comes at a higher price and on less generous terms."
He added that it seemed unlikely banks would continue to push out money for the commercial property market.
With house prices on the rise and lending remaining difficult, Britons may find that property to rent in Fulham or another part of London provides a temporary base while the market recovers.
This may be particularly advisable after the Halifax house price revealed that prices rose by 1.6 per cent in September. This was the third consecutive monthly increase and the fifth so far in 2009.
Written by Charles Mackay
Published 8th October, 2009
© 2009 Estates IT Limited
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While confidence is returning to the banking sector, property lending is unlikely to "shoot" up.