Mortgage market 'losing momentum'
A financial expert has suggested that the housing market had lost any momentum from the last year after new figures revealed a slight increase in the number of home loans.
Data from the British Bankers' Association showed that gross mortgage lending to buyers had risen marginally in March, standing at £8.7 billion, although it remained lower than the six-month average of £9.2 billion, -
Howard Archer, chief UK economist at IHS Global Insight, that the market had "lost momentum".
"The muted BBA mortgage approvals data reinforce our suspicion that house prices will be erratic through 2010," he added.
Figures from Hometrack this week showed that prices in London are continuing to outperform the rest of the UK, which might not be good news for potential buyers.
Comments that UK mortgage market has "lost momentum" from last year may attract more people to look for property to rent in the London borough of Kingston-upon-Thames, or elsewhere in the country, as a result.
By Charles Mackay
Published 28th April, 2010
© 2010 Estates IT Limited
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More people may be attracted to the idea of looking for property to rent in the London borough of Kingston-upon-Thames, or elsewhere in the country, after a financial expert revealed the mortgage market had "lost momentum".