Anyone paying attention to the British market will have noticed that it
seems like mortgages have dropped in the last couple of months. This brings up
the question whether property sales are finally starting to slow down for anyone
seeking mortgage advice.
London
One of the main places where mortgages have definitely dropped is in
London. According to some sites, the market in London has become oversaturated
and is definitely starting to cool off. Many experts say that the outlook for
this is that the trend will continue in that direction for some time to
come.
This is coming in the form of a bunch of different market surveys that come
in throughout each month. This means that there will be a significant effect on
the market. The trend seems to also be happening through the rest of the UK as
well, though this is particularly significant in London due to the fact that
this is the first time in three years that housing prices have dropped. Every
indication is that the falling prices will keep going as well.
The demand from new buyers was also falling for months in a row and London
again was contracting the most in this area. Around 12 months from now many
people expect that prices will be perhaps 1 percent higher though, depending on
the way things pan out so it may be that the trend is only going to continue in
a certain way for a limited amount of time.
Still, this could be an opportunity for those who are looking to watch for
the bottom to come so they can buy and then ride the wave towards the top again
as this would be advantageous for everyone concerned in the situation.
The important thing is to pay close attention to how everything pans out in
order to make sure that you know the exact right time to buy and profit from the
trend in general. It could also be a great time to re-mortgage too.
If you need more info please visit us @ www.mortgageadviceservices.co.uk or call us on telephone number 01332 257 087 for a free quote today.
Labels: buildings insurance, contents insurance, first time buyers, independent mortgage advisers, interest rates, mortgages, process