Mortgage lending news ‘could affect property market’

Positive news about mortgage lending and house affordability in the UK could help to lift first-time buyers in the property market, one expert has suggested.

Jane Marr, the Little House Company’s director, said her organisation believes consumer confidence has a major effect on the sector and claimed that “once the dark clouds of doom start to disappear, so will the housing market’s problems”. published figures earlier this month showing that 65 per cent of people who do not own a home believe they will never do so.

However, property prices continue to decline, with Halifax revealing that purchasing a house is now more affordable than it has been for more than six years.

Ms Marr said that people who can spot a good bargain are finding them in the property market right now and urged first-time buyers to have a look themselves given the “ideal” price situation that currently exists.

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