27
May
RICS still hopeful of mortgage market boost
The Royal Institution of Chartered Surveyors (RICS) is still
hopeful that the government's extended quantitative easing
programme will help improve the mortgage lending situation in the
UK.
An increase in mortgage approvals is "vital" if the housing market
can keep moving in a positive direction, the group said.
In a statement released today following the latest lending figures
from the British Bankers' Association, RICS indicated that mortgage
approvals for new house purchases in April "reverses some of
March's fall".
However, it also suggested that stimulus packages implemented by
the Bank of England are still to have an effect on home loan
lending.
Despite recent rises, the level of lending is low compared to
previous years, it added.
Earlier this month, Halifax said that first-time buyers should find
that property is at its most affordable level for over six
years.
National Association of Estate Agents figures also backed this up,
with its research saying there were a number of bargains to be
found on the market.
