Some economists say the monthly fall in mortgage approvals could be due to some people delaying mortgage applications as they wait of the second phase of the Government's Help to Buy scheme, The BBA said there was clear evidence that Government subsidies had helped to kick start lending. "Assistance schemes for mortgages are helping first-time buyers and housing chains generally as housing market activity rises," It is also the end of the year for house buying and selling our experienced IFA’s at Enable often see things tail away a bit as Christmas approaches. The depths of winter are never usually that good time to buy or sell a house.
Meanwhile, net consumer credit rose by £12m to £79.63bn in October, as consumers borrowed slightly less on credit cards and paid-off more money on overdrafts. The BBA also noted that low loan rates were helping to stimulate demand. “Improving consumer confidence is also leading to the banks seeing higher demand for personal loans,” said David Dooks, statistics director at the BBA. If your confidence is rising and you are interested in getting finance in place for looking for a home in the Spring Enable’s IFA’s are happy to take you through your options.
Your home may be repossessed if you do not keep up repayments on your mortgage.
Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE
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