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Mortgage Lending Falls 2%

Residential mortgage lending during the month of September fell back 2% when compared to figures during. Approximately £12.9 billion was lent during September when compared to £13.1billion during August.

However these figure are slightly insignificant when looking at the bigger picture over the longer term, so not all is doom and gloom. The council of Mortgage lenders have also pointed out that lending is still 4% higher than for September last year.

If you are looking to sell the type of house which is in the first time buyer bracket i.e a starter home or small flat, new data does unfortunately show that first time buyer levels have fallen to their lowest number since November last year. Due to our current low interest rates, mortgage products our currently some of the cheapest that we’ve experienced for many years. However, the high deposits that are currently being asked for, commonly 25% seem to be holding first time buyers back. Also, we are experiencing far stricter lending criteria than ever before and of course that is preventing many from getting on the ladder.

If you are looking to sell your house fast on the open market then it is really a matter of the banks opening up their lending criteria and allowing buyers to purchase. If you were planning on emigrating this summer or may even have a job waiting for you overseas, we offer a very good alternative compared to our competitors or simply selling through an auction.

At YouSellQuick we don’t ask for you to give any equity away, you may have recently inherited a house or are simply fed up of waiting to sell your home.

Speak to one of our advisor’s today and receive a favourable, fair offer for your home.

“YouSellQuick gave me a very good deal and helped me through the whole process.”

— D. Halls London, England

“I got exactly what they offered in my bank account, nothing less, no extra fees or commissions.”

— R. Gray Colchester, England