11 Aug

Report shows more people looking to buy houses for sale in the UK

Report shows more people looking to buy houses for sale in the UK

A recent report has shown that there is an increase in the number of people looking to buy a house for sale in the UK.

According to findings from the Co-operative Bank and Britannia, there has been an increase of 31 per cent in the number of mortgage applications they have received during the first six months of 2010.

This indicates that more people are preparing to buy properties by taking out a home loan.

Chief executive of the Co-Operative Financial Services Neville Richardson said: "The large increase in mortgage applications reflects some gentle improvement in consumer confidence with regards to the housing market."

A move taken earlier this year to offer 90 per cent loan-to-value mortgages to support first-time buyers could have encouraged the surge in mortgage applications as prospective homeowners are able to purchase properties with just a ten per cent deposit.

First-time buyers will also be pleased to hear that the Royal Institute for Chartered Surveyors reported a drop in the price of houses in July for the first time since the same period last year. ADNFCR-1222-ID-800021423-ADNFCR

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