Long-term mortgage 'problems' could hit market
People who are looking for property to rent in the London borough of Epping Forest or elsewhere in the country are being told the UK faces problems in the mortgage market, that could affect first-time buyers.
The Council of Mortgage Lenders (CML), a trade association for the industry, said the removal of a number of government and Bank of England measures may affect those looking to take out home loans.
Bernard Clarke, a spokesperson for the body, talked of a "longer-term problem" of filling a "funding gap that may be left by the taking away of initiatives to boost liquidity made over a number of years".
Although Mr Clarke said that it is "too early to say" whether the announcement of a coalition government will succeed in calming the market down and help prospective buyers, he confirmed the CML would actively seek meetings with the new administration on the issue.
This follows figures from the Bank of England that showed the cost of a mortgage is falling, but the number of approvals was below the six-month average.
By Martyn Glynn
Published 14th May, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Southwark to get Dickens statue
People in flats to rent in Southwark may be pleased to learn that the local council plans to install a commemorative statue installed between Blackfriars Road and Union Street to celebrate the English novelist Charles Dickens' 200th birthday.
Read Article ... Published on 9th February, 2012
Bexley highlights progress on local Olympic planning
People occupying flats to rent in Bexley have been assured that the local council is making good progress in getting ready for the forthcoming 2012 Olympic Games in London.
Read Article ... Published on 8th February, 2012
Colindale's Grahame Park area in line for regeneration funding
New flats to rent in Colindale could be created if Barnet Council succeeds in efforts to obtain new funding for the regeneration of Grahame Park.
Read Article ... Published on 8th February, 2012
Council announces new parking plans for Fulham
People seeking flats to rent in Fulham will be able to benefit from expanded parking facilities thanks to a new package of measures from the local authority.
Read Article ... Published on 7th February, 2012
Bromley Council approves funding for Biggin Hill Heritage Centre
People occupying flats to rent in Bromley will welcome news that £64,000 has been allocated for the development of the new Biggin Hill Heritage Centre.
Read Article ... Published on 7th February, 2012
Harrow unveils new budget plans to modernise local services
Those occupying flats to rent in Harrow have been promised that local services will be protected or improved under new plans from the regional council.
Read Article ... Published on 6th February, 2012
Borehamwood park to compete for Green Flag Award
People living in flats to rent in Borehamwood will see their local Aberford Park compete for a Green Flag Award once again this summer.
Read Article ... Published on 6th February, 2012
Plans for new Highbury Roundhouse developments outlined
People in flats to rent in Highbury have seen plans to redevelop the current site of the Highbury Roundhouse community centre take another step forward.
Read Article ... Published on 3rd February, 2012
Improvement programme to be launched for Ruislip Manor shops
Those occupying flats to rent in Ruislip are set to benefit from a new scheme that will improve the look of shops in the Ruislip Manor area.
Read Article ... Published on 3rd February, 2012
South Kensington's revamped Exhibition Road officially opens
Demand for flats to rent in South Kensington could be set to rise following the official opening of the revamped and redeveloped Exhibition Road area.
Read Article ... Published on 2nd February, 2012
More people may consider looking for property to rent in the London borough of Epping Forest or elsewhere in the country after a UK mortgage body warned of a "longer-term problem" facing the home loans market.