Mortgage Industry News

← Back

More people looking for cheap mortgages

Date: Tue, 15 Nov 2005

More people are looking around for cheap mortgage deals to secure the house of their dreams.

The Royal Institution of Chartered Surveyors (RICS) British housing market survey shows that last month saw the largest increase in buyer enquiries for around two years – a sign that buyers may be taking advantage of lower interest rate offers.

House prices also seem to be falling as potential buyers shop around for the best deal, with surveyors reporting price falls for October of around nine per cent. However, a fall in the number of properties on the market could see sellers regaining some market power.

"This month has seen further evidence of a pick up in the market with the recovery in would-be buyer interest," said RICS spokesperson, Jeremy Leaf:

"The return to more balanced market conditions is welcome, though negotiations between buyers and sellers remain hard, and over-priced property continues to remain unsold," he added.


© 1998-2005 DeHavilland Information Services plc. All rights reserved.

Endsleigh Insurance Services Limited is authorised and regulated by the Financial Services Authority. This can be checked on the FSA Register by visiting its web site at www.fsa.gov.uk/register.
Endsleigh Insurance Services Limited. Company No: 856706 registered in England at Shurdington Road, Cheltenham Spa, Gloucestershire GL51 4UE.