The number of mortgage approvals made by lenders for September fell 10% on the previous year, representing a 14 month low in mortgage lending activity in a clear indication that the housing market is undergoing its greatest slowdown in recent times.
We’ve seen this in South Wales already. The market is on the move, and it’s mostly downwards. It’s time to get realistic about which way house prices are heading. And interest rates haven’t even gone up yet…
A storm is brewing. Please don’t get caught out in the coming thunder and rain. And definitely don’t rely on your eventual buyer getting a mortgage. It’s still possible to sell your house for cash to us (we don’t use mortgages), we’re still buying right now but best you sell your house quick as we obviously have to work within the realities of the house market prices.
