The asking price of property slashed down to its lowest value in the last four months, thereby affecting the market of Homeowner loans in UK adversely.
February 23, 2007 (Press Release) --
London (Shakespearefinance) February 19t 2007: The property prices in UK dropped to the lowest in the past four months, reports Rightmove. The annual growth in the falling rate of property prices was recorded to be 13.5% in January, as compared to 11% of last year. As a result, the market of the homeowner loans has been adversely affected.
The rising level of debts and slashing rates of property have made the UK citizens highly sensitive in relation to interest on homeowner loans. Commercial director of Rightmove, Miles Shipside said: It looks like we have finally reached the point where the market is highly interest-rate sensitive... We are at a crossroads, and the path taken by those in charge of interest rate policy will dictate the direction of the housing market in 2007.
The study also proved that instead of 84% as in 2006, now just 78% of the consumers believe that the house prices will hike. That amounts to a cut down of 6%. As a consequence, homeowner loans will attract a higher interest rate, affecting the market. In accordance to the British Banker's Association, homeowner loan approvals hit their lowest rate for almost six years in December 2006.
For more information on the news that is the subject of this press release (or for a copy, demo, or sample) contact webmaster or visit http://www.shakespearefinance.co.uk
The rising level of debts and slashing rates of property have made the UK citizens highly sensitive in relation to interest on homeowner loans. Commercial director of Rightmove, Miles Shipside said: It looks like we have finally reached the point where the market is highly interest-rate sensitive... We are at a crossroads, and the path taken by those in charge of interest rate policy will dictate the direction of the housing market in 2007.
The study also proved that instead of 84% as in 2006, now just 78% of the consumers believe that the house prices will hike. That amounts to a cut down of 6%. As a consequence, homeowner loans will attract a higher interest rate, affecting the market. In accordance to the British Banker's Association, homeowner loan approvals hit their lowest rate for almost six years in December 2006.
For more information on the news that is the subject of this press release (or for a copy, demo, or sample) contact webmaster or visit http://www.shakespearefinance.co.uk
Email
Print
SPAM
LEAVE A COMMENT
