Affordable mortgages 'may not be answer to property slump'
News that affordable mortgages are coming to the market may not be enough to provide an answer to the ongoing housing market slump, one sector commentator has claimed.
Commenting on a new HSBC mortgage - which offers a rate of 1.99 per cent on a two-year discount loan - Jon Brown, partner relationship manager at iammoving.com, said many would-be buyers could still be thinking twice about buying a home.
"The question is, are Britain's renters ready to jump just yet, or are they prepared to weather the storm just that little bit longer to see if lenders can stump up a better offer than a 40 per cent deposit?," he asked.
Britons who are concerned about whether they will be able to secure a mortgage may find that property to rent in Blackheath is a more affordable option.
Buyers with a deposit valued at 40 per cent of their property's value may be able to take advantage of the HSBC offer.
Published 4th September, 2009
© 2009 Estates IT Limited
London Rental Property News By London Borough / Category
Latest London Property News Headlines
Barking Splash Park opens this weekend
Barking Splash Park will be free to use this weekend (May 25th-27th) to mark its opening.
Read Article ... Published on 24th May, 2012
Southwark estates to get cheaper energy bills
Residents in Southwark can look forward to cheaper energy bills thanks to the creation of a new underground green network.
Read Article ... Published on 23rd May, 2012
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
The housing slump may not be rectified by affordable mortgages alone.