May 11
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Mortgage market in UK improving but
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… property deposits too high for many
Published by Property Wire on Monday, 23 May 2011
There are tentative signs that credit availability in the UK property market is improving as mortgage rates decrease and more products with a higher loan to value ratio come to the market, new research reveals.
The gap between London Interbank Offered Rate (LIBOR) and base rates narrowed to 0.37, only slightly above the long term average of 0.2, indicating that the banks’ confidence in one another has improved, says CB Richard Ellis (CBRE) and this is essential to engender a fully functioning mortgage market.
