Britons still believe in ownership
The vast majority of Britons still want to invest in homes despite the current economic situation, according to a new YouGov survey.
Nine out of ten respondents of the poll commissioned by the New Homes Marketing Board (NHMB) believe that buying their own home is sensible in the medium or long term.
However, 60 per cent of respondents admitted to putting plans on hold in the current climate, citing difficulties in obtaining a mortgage and saving for the larger deposits now required.
David Pretty, chairman of the NHMB, said: "Our survey shows that underlying demand for home ownership remains very strong. In today's cooling market buyers should be able to take full advantage of lower prices and better deals."
In other news, Woolwich announced that it is substantially reducing the interest rates of key buy-to-let mortgages - with the portfolio lifetime trackers reduced by 0.4 percentage points.
UK Property News posted on 29/07/2008 14:39:03
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