Pitmans & The Thames Valley Business Magazine's Property & Real Estate Round Table: Mortgage Log-Jam Could Stifle The Market

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Recently, The Thames Valley Business Magazine and Pitmans Solicitors gathered a group of local experts to consider the property investment market. John Burbedge reproduces selected observations from the roundtable discussion:

The Roundtable message came loud and clear: Mortgages need to be made more readily available, particularly for first-time-buyers (FTB’s), to get the residential housing market moving, and with it the property sector in general.

The lack of lending was risking a ‘stifling’ of the market, claimed developed Mark Clayton. “There is a danger that people just won’t move- and therefore the estate agents will not be paid, the lawyers will not be paid, the removal men will not be paid, the home furnishers on the high street will not be paid…and even the Government will not receive stamp duty (SDLT) or VAT on any other associated service, damaging the public purse. People will stop spending on certain items and there will be casualties in the market place.”

Read More: http://www.pitmans.com/news/mortgage-log-jam-could-stifle-the-market

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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