Euro Doing Better Than Expected
The European Union witnessed a not insignificant amount of economic growth during the first fiscal quarter of 2008. Experts predicted dismal growth for the Euro, in light of the recent slowdown in the global economy. Yet, the vigorous gross domestic product (GDP) figures in European Union countries kept the value of the Euro relatively high, constituting “a last hurrah for the eurozone econonmy,” in the words of economist Nick Kounis. Read more
Tags: country, light, government, economy, gdp, growth rate, rate, first three months
First-time buyers ‘undeterred’ by credit squeeze
November 2, 2007 by admin
Filed under News, News-Mortgages
Despite a significant tightening of the mortgage market following the US sub-prime crisis, many Brits are keener that ever to get their foot on the property ladder.
According to research by Fair Investment, despite the number of mortgage enquiries seeing an overall decrease in the past few months, the number of first-time buyer enquiries has gone up dramatically.
In the first three months of the year first they were at an average of 56 per cent, while in the last three months they have risen to 74 per cent.
Furthermore, the number of first-time buyer enquiries for 100 per cent mortgages has increased from 77 per cent in the first quarter to 92 per cent in the last three months.
James Caldwell, Director of Fairinvestment.co.uk explains: “Britain’s love affair with the property market is far from over, despite the recent dip and the gloomy forecasts for the next few years.
“Our figures suggest that…first time buyers are still keen to seek out a deal and are fully prepared to opt for 100 per cent mortgages if it means getting their own home.”
Meanwhile, demand for high-end mortgage products has grown, especially for multi-currency mortgages.
