House Prices Could Fall by 25 Per Cent Amid New Lending Rules May
Linked as:
Summary
THE housing market is on the precipice of a double dip as experts warn that new mortgage affordability rules could send house prices tumbling.
House prices have levelled out in recent weeks after more than a year of increases and as evidence mounts that the recovery has stumbled, a growing number of economists are predicting a sustained fall that could last for up to a decade and shave up to 25 per cent off prices.See the full content of this document
Extract
House Prices Could Fall by 25 Per Cent Amid New Lending Rules May
New proposals unveiled this week by the City watchdog could strengthen the headwinds facing the housing market, it has been claimed. The Financial Services Authority (FSA) wants new affordability tests that would severely restrict the use of interest- only mortgages, making it harder for first-time buyers to get a home loan.
Under rules slated for implementation early next year, lenders will be forced to check...See the full content of this document
Sponsored links
