25
Aug
FTBs may 'still face difficulties' getting on property ladder
Some first-time buyers may still find it difficult to get on to the
property ladder, according to a property expert.
Bernard Clarke, a spokesperson for the Council of Mortgage Lenders,
the trade association for the mortgage lending industry, said that
the decrease in house prices reflects conditions in which it is
still hard for buyers affected by a shortage of mortgage
funding.
His comments follow the publication of the Rightmove House Price
Index published earlier this month, which revealed that average
asking prices fell by 2.2 per cent as summer sellers priced more
realistically.
"Some [mortgage lenders] will be worried about the continuing
recession and they may have concerns about their job security,"
stated Mr Clarke.
The news comes after the trade body reported last week that
advances picked up in June and July as anticipated, constituting a
typically strong seasonal rise over the summer months as a
whole.
