The housing market does not look very promising at the moment. The recession has played havoc with the economy and its repercussions can be felt in the housing sector as well. Raising funds is proving to be difficult for the banks from wholesale markets as a result of which they cannot lend cash.
Also, they have become quite skeptical regarding investing in the housing market and are no longer considering it as a profitable proposition. Therefore, they are only keen on lending funds to buyers who can flaunt a good credit score as well as a huge deposit. The days of 100% mortgages are over.
Tags: conveyancing, repossession, Sell And Rent Back, Sell My House Fast