Survey reveals 98 per cent of buyers can secure a mortgage

Posted: 15 Aug 2008 16:51:52 GMT

            Property News - Survey reveals 98 per cent of buyers can secure a mortgage

The vast majority of homeowners do not have an issue arranging a mortgage, according to new research from HSBC.

According to the high street lender, the slowdown in the home buying market is due predominantly to the expectation that prices will fall further and this is creating a lack of confidence amongst would-be buyers.

Its research has shown that as many as 98 per cent of potential housebuyers have had no problems securing a mortgage.

Martijn van der Heijden, HSBC's UK head of mortgages, said: "There is a perception at present that banks are not offering mortgages. In fact, our latest study suggests that access to finance is not a major issue. Instead, many buyers are taking a wait and see attitude."

HSBC's study also looked at the reasons homeowners were looking to sell up and found that the primary reason for moving was "investment of homeownership".

The bank has suggested that this is a sign of confidence in the property market as an investment opportunity.

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