QCFP Property Summary
Reports from QCFP show that 2011 is still looking gloomy for the UK housing market, with further reductions in property values to continue this year. The average property value stands at around £175,416. Further cuts from 16pc to 9.1pc in 2014 have been predicted and house values have fallen for the 4th consecutive month. Bank lending still remains tight affecting many people that are looking to buy a home. Consumer confidence still remains weak within the UK housing market whilst home owners sit and wait for some signs of recovery. There is still much hesitancy within the property market, mainly due to the public spending cuts and the slow recovery of our economy.
QCFP Buying A Property
Do you need to sell your home? Do you have a buyer? Do you have equity in your property? Do you a mortgage outstanding? Do you have any secured loans or credit cards? Have you missed any payments on your credit cards or loans? Do you have any CCJ’s or defaults against your name? Are you currently in debt? These are all questions you need to ask yourself first before selling your property. As we all know, lending criteria is very tight and the banks will look at all of the above before deciding whether they will loan you the funds you require to help you buy the house you want. You could be selling your home for a number of reasons? New job? Emigration? Inheritance property? Relationship breakdown? Maybe you want to rent rather than have a mortgage? You will need to consider all the options when it comes to selling your property and the speed to which you need to sell your house, as these key points can point in the direction you need.
QCFP Review for 2011
Less than 1 in 4 are first time buyers and some areas of the UK 1 in 5 are first time buyers. The UK property market is currently not a healthy one as the proportion of first time buyers are around half of a typical healthy housing market. Much of this comes down to the way the mortgage lenders have tightened up on who they lend money to and the criteria you need to meet before they lend you any money. Raising a deposit and affordability of mortgage payments are also big pieces of the puzzle. With these concerns still hovering around potential home owners of which first time buyers are needed to help keep the chains active fluidity throughout the housing ladder. Keep yourself updated with what is happening in the housing market with the latest QCFP reports and updates.