Liquid error: wrong number of arguments (2 for 1) George Osborne acts over Help to Buy scheme | Marsh & Parsons Sales and Lettings Estate Agents London

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George Osborne acts over Help to Buy scheme

Mon 22 Jul 2013

The announcement came as the price of upmarket central London homes soared past the 2 million mark for the

first time - with 18 potential buyers chasing every property, according to estate agent Marsh & Parsons. Help to

Buy lenders will have to check that buyers can cope with a sudden rise in interest rates. People with poor credit

histories are to be excluded, along with second-home buyers and overseas buyers. The tighter criteria come amid

warnings from the IMF and other think tanks there is a danger of creating a housing bubble that would risk a

price crash.

The British Bankers Association today reported a further pick-up in mortgage approvals to a 17-month high with

37,278 in June, up 32% on a year earlier. Marsh & Parsons said prices in Kensington & Chelsea, Notting Hill and

Pimlico rose 9.3% on a year earlier in the quarter to June. Clapham and Battersea prices are up 12.7%. Chief

executive Peter Rollings said Fulham was a hotspot: Buyers are much more willing to go across the border from

Chelsea and get a bit more for their money. ?

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