What the papers said about the UK property market

What the papers said about the UK property market
<a href="http://www.independent.co.uk/money/mortgages/housing-hotspots-in-2016-london-prices-may-settle-commuter-belt-will-rise-and-first-time-buyers-a6803611.html">Predictions for the housing market</a> continued in this weekend’s financial press, with industry experts discussing the impact different factors, such as Government policy regarding Buy-to-Let and the timing of interest rate rises, could have on the forecasts. Mortgage brokers suggested that now is still a good time to buy, as interest rates remain at rock bottom, but urged First-Time Buyers to look long term and consider their ability to pay the mortgage in the future once rates do inevitably begin to rise.<br /><br />Also looking to the future, one of the UK’s biggest housebuilders has expressed concern over plans to build a million new homes by 2020, claiming that the quality of building work could suffer in an attempt to meet targets. The Government has however announced that it will commission smaller developers in addition to the larger builders in order to boost activity, a move which has been welcomed by many.<br /><br />Elsewhere, the Independent on Sunday reported on recent research revealing that as many as 1 in 4 house sales currently fall through in the UK. Often the events that cause a break in the chain are beyond anyone’s control, with brokers citing issues uncovered during the valuation of the property, or borrowers simply getting cold feet. <br /><br />Tighter rules surrounding affordability also mean some are struggling to secure the loan amount they require, so potential borrowers are advised to do their research – including getting an idea of <a href="/calculators/how-much-can-i-borrow-mortgage-calculator/">how much they borrow</a> and checking their credit file to make sure all details are correct. Speaking to a mortgage broker can also help, as they will be able to provide advice and guidance throughout the process.<br />
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