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Nearly half of young mortgage holders `need help from family` Abbey cuts mortgage rates New arrears guidance issued by CML Mortgage fraud `on the up` CML expresses concerns over sale and lease back schemes Business groups call for further rate cuts Interest rate cut `will help some struggling borrowers` Mortgage approvals `hit by continued market uncertainty` Company reduces rate of home loans Mortgage rates `to rise` Consumers `will be hit by reduced credit` `Nearly £20k` needed to secure a mortgage Borrowers urged to take advantage of good mortgage deals Mortgage lending falls in August Variable-rate mortgages `increasingly appealing to homeowners` Parents `relying on loans to cover school fees` Further mortgage rate cuts announced Remortgaging `on the rise` Mortgage lenders call for swap plan renewal Homeowners encouraged to shop around for mortgage deals

A quarter of people `still willing to buy property`

20/06/2008

Over a quarter of British people think property is a good investment despite the credit crunch.

The Building Societies Association (BSA) has found 51 per cent of British consumers are unlikely to invest in the property market, according to their first quarterly Property Tracker.

However, four per cent people said they "strongly agree" that now is a good time to buy property in the UK and 23 said they "tend to agree" with this statement.

From the half of consumers unlikely to invest in property, 70 per cent cited the reason as doubts about paying off mortgage repayments.
Obtaining a large enough mortgage or a mortgage at all would discourage 49 per cent of respondents and raising a deposit posed a problem for 47 per cent.

Future falls in house prices would dissuade 46 per cent of those questioned and lack of job security was considered a barrier to investment by 12 per cent.

Director general of the BSA Adrian Coles said the figures "demonstrated the extent to which household finances are being stretched, as well as a reflection of the increased price of risk now incorporated into mortgage rates".

This week HBOS warned house prices may fall by nine per cent this year.

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