29 Apr Estate agents claim there are 70% less house buyers
70% of estate agents claim there are significantly less house buyers due to tougher mortgage checks.
Up to two-thirds of estate agents in a survey done by The National Association of Estate Agents are claiming that there are fewer house buyers due to it being increasingly difficult to obtain a mortgage as the lending rules have changed.
This all comes from the mortgage market review forms that we released over a year ago and since then it seems that buyers are few and far between. Known as ‘lifestyle lending’ it monitors not only how much you earn each month but also where you are spending your money on and also what you are spending it on.
This seems worlds away from the market we knew a year ago when properties were going on the market and people were getting a quick house sale and selling through sealed bids due to such high demand, pushing house prices through the roof.
Figures are showing that the overall numbers of people being granted mortgages has dropped significantly.
The rules have also changed in regards to a number of homeowners putting their houses up for sale as many are trapped in with their current mortgage.This rule mainly applies to those who have bought in 2006-2007 and are trying to work their way up the ladder for whatever reason are finding difficulties under the new rules.
Here at Home House Buyers the number of enquiries that we are getting is gradually increasing day by day due to people not being able to get a quick house sale through the open market. Many of our customers tell us that they are sometimes waiting up to a year on the open market without any viewing and the only advise the estate agents are giving them is to drop the price.
We can buy any house quickly, it doesn’t matter about the size or the situation. Home House Buyers pay all the fees in the process and can offer you a completion within 14 days.
Call a member of our team on 0800 6121 366.