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Mortgage approvals fall in the UK
04/11/2011
According to bank figures the amount of approved mortgages but not yet lent fell for first time in 5 months during September.
The bank of England stated that approvals for home mortgages were down 3% compared to August. It is expected that mortgage related sales will fall further in the next few months.
It is predicted that prices are likely to come down over the next few months due to low consumer confidence and the economy still being in a weak position.
So, with this news now is the ideal time to buy and invest in a property. Whether you are looking to help your children or grandchildren take their first step on to the property ladder or if you want purchase a second or third property you will need to gather together the money for a deposit.
If you are a homeowner aged 55 and over then equity release could help you. With equity release plans such as drawdown lifetime you can release funds that would otherwise be tied up in your home.
To find out more how equity release can help you contact the right equity release for specialist advice.
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