A proposed grant may assist home buyers that are interested in getting a flexible mortgage or any other type of mortgage at this time. While approval rates are down across the UK, there are some areas where flexible mortgages are still doing well. Once such area is Scotland, which does not appear to have been hit quite as hard by the flexible mortgage crisis. However, experts are taking a wait and see approach on flexible mortgages at this time.
Alison Hatrick of the National Association of Estate Agents (NAEA) said “There is a lot of stock on the market and not so many buyers around so that is obviously not good news, but there has been a reversal in the trend to buy first and sell later.”
“People are putting their homes up for sale first and that means they can afford to sit it out so we are not necessarily seeing big price drops because people are not prepared to agree to that.”
“The £2,000 grant for first-time buyers - which they withdrew - would have helped the situation, the measures they are taking do not suit the market as a whole.”
Related reading: Flexible Mortgages
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