Peter Rollings commenting in response to today's CML regulated mortgage survey results
Friday, 11 March 2011
"These numbers keep getting worse despite two years of record low interest rates. Nobody is calling for a return to the irresponsible lending of a few years ago, but the choke on mortgage finance is stifling buyers who want to take advantage of the value there is in much of the UK property market at the moment. But there are a lot of people who do have cash to invest, who are piling it into bricks and mortar. Activity in the London property market is being buoyed by the substantial demand from UK and international cash buyers, who are immune to the current mortgage finance famine and are triggering stiff competition for the limited stock of prime properties on the market. In the capital, the days of gazumping have returned with a vengeance, and more and more properties are going to sealed bids. Anyone who thinks they can bid way below a sensible asking price is dreaming."
For further information please contact:
The Wriglesworth Consultancy, Dan Pike / Neil Mackwood 0207 427 1430 / 0207 427 1400
Marsh & Parsons has been part of the London property scene since 1856. The sales and lettings agent has 15 offices situated in prime positions across central, west and south London. They have an intimate and extensive knowledge of the area.
Marsh & Parsons are an independent and professional firm with a 'can-do' attitude covering all aspects of residential property. They aim to establish individual relationships with clients through a business built on energy, agility, professionalism and knowledge. Their business aim is to be the agent who not only understands the local area around their offices better than any other agent, but also to be at the heart of the community.
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