An online version of a British newspaper has a feature on mortgages. The feature reports that an association of mortgage companies in the UK is confident that first time buyers will be a strong force in the real estate market. Mortgages given out for rental properties have abated since implementation of a new tax in April of 2016. However, loans for first time buyers have gone up by eight per cent. A representative for one mortgage company was confident about the continued strength of the market.
Key Takeaways:
- Housing market continues growth fueled by the influx of new home buyers
- Demand for rental properties dwindles, but housing market demand remains strong
- Lenders see continued growth in the housing market as new buyers enter the market
“First-time buyers will help to drive momentum in the housing market despite subdued activity in the buy-to-let sector, according to the Council of Mortgage Lenders.”
Read more: https://www.thetimes.co.uk/article/first-time-buyers-will-drive-property-market-5bbn2v8k0