Mortgage rise in 2018 to hit first-time buyers

Many facets are facing the housing market in 2018. Lack of supply, slow sales, and increased rates. These higher mortgage are going to prohibit first time home buyers from new mortgage regulation. The hardest of these will affect home-buyers of their first house. These new rules are raising the down payments and putting them farther out of reach. Housing prices are slowly declining, but without a boom the lack of supply will continue to inhibit first time home buyers. The hardest hit areas will be in London and the South East.

Key Takeaways:

  • Stamp duty taxes and interest rates for loans will make real estate prices in Britain competitively high in 2018.
  • First-time real estate buyers in Britain will face competitively higher prices in 2018 than in 2017.
  • Lack of new residential properties in Britain deters price reduction in home equity values.

“the sluggishness of the buy-to-let sector is likely to contribute to a slowing property market”

Read more: https://www.telegraph.co.uk/news/predictions/mortgage-rise-to-hit-first-time-buyers/

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