Mortgage lenders have "huge role to play in the coming months"
www.moneynews.co.uk > Mortgages > Mortgage lenders have "huge role to play in the coming months"
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Money News |
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Mortgage lenders have "huge role to play in the coming months"
Fri 28th Aug 2009
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Gary Smith, president of the NAEA, noted that it will be vital for the UK economy that mortgage lenders and the government build on the recent surge in consumer confidence.
He suggested that the combination of low interest rates and realistic prices might entice some families to "upgrade" to a new home, which would mean their old house goes back on the market and increases the supply of property on the market.
"Lenders have a huge role to play in the coming months and the NAEA intends to monitor the situation very closely to ensure they play it," he added.
Mr Smith's comments were made after Nationwide reported a rise of 1.6 per cent in house prices from July to August this week.
This was the fourth consecutive month of house price growth, according to its monthly index.
Click here for more mortgage news
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