Mortgage market made "micrometre" movements
House hunters are learning that the mortgage market made very little positive progress in April, according to one expert.
Paul Holmes, chief executive of Firstrung, believes the two per cent increase in home loan approvals, as revealed by the Bank of England this week, is not worthy of debate because of its "micrometre movement".
He stated that, in the current state of the market, the UK is still 50 to 60 per cent down on its position "at the peak of the madness of the out of control property market".
The expert suggested the Bank of England had little reason to cheer given that it has "stuffed the banks with £200 billion of quantatitive easing in order to encourage them to lend".
Comments suggesting the mortgage market has not made much progress may encourage more people to consider looking for property to rent in the London borough of Hillingdon or elsewhere in the country.
By Andy Britten
Published 4th June, 2010
© 2010 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Enfield £1.3bn masterplan unveiled
A masterplan has been unveiled that will see a 200-acre site in Enfield regenerated as part of a £1.3 billion plan.
Read Article ... Published on 23rd May, 2012
Londoners encouraged to grow their own fruit and veg
People in London are being encouraged to grow their own fruit and vegetables.
Read Article ... Published on 22nd May, 2012
Merton 'embraces green improvements'
Merton is now a cleaner, greener location to live in thanks to the implementation of the Wandle Valley Low Carbon Zone (LCZ).
Read Article ... Published on 22nd May, 2012
London house prices rise by 1,782% in past 35 years
London house prices have increased by 1,782 per cent in the last 35 years.
Read Article ... Published on 21st May, 2012
Poplar's Chrisp Street to get £100m regeneration
Some £100 million is to be spent regenerating the Chrisp Street area of Poplar in Tower Hamlets.
Read Article ... Published on 21st May, 2012
Putney community hall gets £150k refurb
Newlands Hall in Putney Vale, Wandsworth, has reopened after undergoing significant refurbishments.
Read Article ... Published on 18th May, 2012
Harrow cycling and walking routes improved
Extensive improvements have been be made to the cycling and walking routes in Harrow.
Read Article ... Published on 17th May, 2012
Norwood Park gets outdoors gym installed
An outdoor gym has been installed in Norwood Park in an effort to encourage more people to take up exercise.
Read Article ... Published on 16th May, 2012
Brixton to benefit from £75m regeneration
An estate in Brixton is to be improved thanks to a £75 million development project.
Read Article ... Published on 16th May, 2012
Olympic concerts to be held at Hyde Park
A series of Olympic-themed concerts are to be held at Hyde Park.
Read Article ... Published on 15th May, 2012
More people may be considering looking for property to rent in the London borough of Hillingdon or elsewhere in the UK after a housing expert claimed the mortgage market made only micrometre progress in terms of increased lending.