No Change in UK House Purchase Lending Activities in November In Falkirk And Stirling

No Change in UK House Purchase Lending Activities in November In Falkirk And Stirling

Though house purchase lending remained unchanged, slight variation was observed in both number and value of remortgage loans processed in November 2010.

44,000 house purchase loans were extended in November and this figure is exactly same with that of October 2010. Number of remortgage loans increased 4% in November from the previous month.

It's worth mentioning that mortgage loans extended towards first time home buyers rose by 3% to 16,400 in November.

Average loan to value for first time buyer mortgage remained 80% for the second consecutive month; noted as highest since November 2008.

Michael Coogan, the Director General of the Council of Mortgage Lenders explained this as a positive development, but he also warned as the overall property sector may remain taxing in the coming year.

However, it is easy to predict that distressed homeowners who need to sell house fast would find it difficult to get a buyer right on time. For fast property sale it would be wise to contact cash home buyers in 2011.

According to Michael Coogan, the capital and funding constraints will remain same and hinder the lending activities keeping the criteria tough as they are.

Another news item revealed that the National Association of Estate Agents reported December 2010 property deals to be 8-year low.

The association also reported that average estate agent branch closed 4 property deals in December; this is also lowest in last 8 years when average estate agents closed 2 property deals per branch. According to them average estate agent branch closed 7 property deals in November 2010.

If this is the case, then a person looking for quick cash for home may not get much help from estate agents; contacting UK property buyers directly would be a wise idea.

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