The real estate market in the UK is in a positive mood

The Council of mortgage lenders conducted a study according to which the size of the gross mortgage lending in the UK remained unchanged compared to July in August 2013 and was valued at £16.6 billion.

But, when compared with August 2012, the amount of mortgage gross lending by 28% higher when it was £13 billion.

Chief economist at Council of Mortgage Lenders Bob Pannell sees in this fact the beginning of a broad and healthy recovery process of mortgage lending in the UK. Moreover, he sees this as also the improvement of the financial market as a whole. The result is a positive attitude on the purchase of homes and refinancing process will continue, said Bob Pannell.

In the case when the housing market observed this kind of activity, begin to appear increasingly persistent rumors of a bubble in the housing market.

However, the recovery in the market, which is now observed, is actually quite ordinary, at least comparable to that which was in the early to mid 1990 – ies.

The situation in the mortgage market now is that the conditions are ripe for higher growth, favorable interest rates become available for public demand. The mortgage market clearly affects the economy of the country, fulfilling its role in supporting the recovery of the UK economy.

The program “Help to Buy” is reserved more than 12,500 residential properties in the UK, which is a great incentive for builders to build more, because the consumer provided the availability of mortgage lending.

The real estate market of great Britain as among the lenders or among brokers, there is a high expectation market performance in the second half of 2013 after a busy first half of the year. Many lenders will try to sign more deals to close the year with good performance.

The stability of the mortgage market increased significantly after the Bank of England on the constant interest rates. Many applicants are now opting for variable rates on mortgages. And the wider the range of rates offered by different banks, means that banks are in a more competitive environment and ready to meet the increasingly wide range of consumers with lower income.

® Helen Entree. 19.09.2013 G.

http://angliadom.com