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Now could be the time to get on the property ladder

October 20, 2009 by admin  
Filed under News, News-Mortgages

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According to the results of a recent survey that was carried out many Brits think that it is now a good time to purchase a property and get onto the . The Building Societies Association carried out the survey, and the results showed that whilst market conditions continued to be difficult in the mortgage sector many Brits were still convinced that this was a good time to buy due to various other factors.

Many people also thought that market conditions with mortgages were starting to ease off somewhat compared to recent months.

Many of the Brits that were surveyed as part of the poll said that one of the reasons why Brits should consider buying now was that there had been improvements in the property market and the mortgage market, which could make it easier to buy.

Another major reason why so many people think that this could be a great time to buy is because the base interest rate is still at all time record lows of just 0.5 percent, where it is expected to remain for the remainder of this year.

According to the figures nearly 60 percent of respondents in the survey agreed with the statement that this was a good time to buy a property.

The survey was carried out amongst two thousand adults in the UK, and backs up data from the and other industry groups that there has been an increase in activity within the property market over recent months.

There is also evidence that consumer confidence in the property market is returning, and one official from the BSA said: “Homebuyers are increasingly viewing the property market in a positive light. With mortgage availability perceived to be increasing, prospective buyers are more confident of securing funding to purchase a property.”

Tags: building societies association, first time buyers, economics, the Brits, Royal Institute of Chartered Surveyors, Mortgages

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