Will market pressures on mortgages enhance renting in London?
More people may encouraged to find property to rent in the London borough of Sutton or elsewhere in the country, as a mortgage expert discussed the possibility of financial sector regulation impacting on the home loans market.
Paul Samter, chief economist for the Council of Mortgage Lenders, was speaking after the body published figures for May that showed lending had increased seven per cent from April.
While he did not expect housing or mortgages to be included in Chancellor George Osborne's emergency budget next Monday (June 22nd), he admitted that the market will be affected by policy decisions put forward in the speech.
Furthermore, Mr Samter indicated that possible new financial sector regulation is "a further source of uncertainty".
However, what may also hurt the mortgage market and make property to rent in London more enticing are recent house price indexes published by Halifax, Nationwide, Acadmetrics and the Land Registry recently, all of which showed significant rises in the cost of buying a home.
By Chris Price
Published 18th June, 2010
© 2010 Estates IT Limited
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