Limited mortgage lending 'hampering housing market recovery'

Call us on our free phone number 0800 587 0093

People Finder

Search AG

Share this site

My Ashton KCJ Bookmarks

Currently no favourites bookmarkedAdd this page to FavoritesCharacter limit exceeded! Limit:To delete the bookmark click on the title and drag out.Bookmark already exists!Custom titleDescriptionPlease fill in all required fields!

100smoothness

Warning: Invalid argument supplied for foreach() in /home/ashtonkc/public_html/modules/mod_cd_fapa/tmpl/default.php on line 56

Limited mortgage lending 'hampering housing market recovery' /resources/news/residential-property/992-Limited-mortgage-lending-hampering-housing-market-recovery

Home > News & Resources > News > Residential Property > Limited mortgage lending 'hampering housing market recovery'

Limited mortgage lending 'hampering housing market recovery'

Two major UK housebuilders have warned that improvements in the housing market are being delayed by limited mortgage lending.

According to Barratt Developments, improved customer sentiment has led to more people looking to make a property purchase, as the market is starting to stabilise.

However, it warned that with financial providers still using strict lending criteria, this is not translating into actual sales.

Mark Clare, group chief executive of Barratt, commented: "The market is shut for an awful lot of people.

"It has removed the opportunity to buy their first home."

Similar concerns were expressed by Redrow, which said conditions in the mortgage sector are proving to be a "major obstacle" to any recovery.

The company stated that resolving this problem would play a significant role in driving a recovery in the economy as a whole.

Meanwhile, Alison Rolls of the Norwich and Peterborough Building Society has said consumers are still being very cautious about buying a new home.

Speaking to the Norwich Evening News, she attributed this partly to people not changing jobs as a result of the recession, and thereby not needing to move as frequently.

ADNFCR-2347-ID-19258483-ADNFCR