Do you want to get a new mortgage? The news that Northern Rock is about to start lending again to the tune of £14 billion is good news for the housing market and most likely good for the economy as well. The question is whether there are the potential buyers out there looking to buy houses.

After months of falls in the value of property nobody knows how much further that might continue and if most people think that it will, they might be unwilling to commit to buy right now. There is the additional problem that with the economy balanced so precariously people are concerned about their prospects for the future and the possibility of suddenly finding themselves unemployed and their income reduced.

The Northern Rock mortgages will help improve availability of mortgages and it may signal a start to turning things around. There are many people who do feel secure in their jobs and will be ready to buy houses and it may be that we are nearing the bottom of the slump and it could be a good time to be buying but there are many questions and few answers right now.

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  2. Funny What Went Wrong With Northern Rock Video
  3. Government To Guarantee Savings In Northern Rock
  4. House Prices Begin To Fall
  5. Total Lending For The Private Sector Rose By £9.1bn In April

Filed under: Mortgages • Property Prices

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