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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

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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