More confidence needed to boost mortgage market
Homeowners deciding whether to move or improve might be interested in the latest comments from MyMortgageDirect.
The firm suggested that the home loan industry needs a rise in confidence from both lenders and buyers if it is to get back to full strength.
Such sentiments could sway Brits towards upgrading their current property with a bespoke conservatory or pool house, rather than waiting for the market to recover.
The Bank of England recently released statistics showing that there was only a marginal rise in lending between June and July 2010.
Lenders approved loans valuing £0.1 billion more between the two months - a slowdown on the £0.5 billion between May and June and the £0.8 billion six-month average.
MyMortgageDirect director Catherine Hearnden explained that part of the problem is that the market has been talked down by experts.
"It does affect everything, so people start believing it and if people start believing it, they act accordingly," she said.
The specialist suggested that a confidence boost could lead to a recovery in the market, but the lack of faith at the moment is proving a major hindrance.
Posted by Ashley Ault
Living by the sea 'has its own problems'
01 September 2010
Recent research showing that Brits are willing to pay thousands of pounds more for a home with a sea view has caused the Little House Company to speak out about coastal properties. The Post Office Mortgage Homebuyers Report revealed...
Scots in good position to afford conservatories
01 September 2010
Property owners in Scotland may be in the best position to afford home improvements such as bespoke conservatories or pool houses. This is because recent research from the Council of Mortgage Lenders has shown that Scots use less of...
Brits willing to work on home improvement projects
01 September 2010
Brits are very open to the idea of undertaking home improvement projects when buying a new home, research has found. Whether it is building a bespoke conservatory, converting a loft space or knocking down walls to create space, homeowners...
Brochure
Would you like some more information on our conservatories? Order a copy of our brochure online today or call
Gallery
View either our residential gallery or our commercial gallery or view a number of our conservatory case studies.
