Friday, 23 November 2007

More housing market news

It would appear that "There has been a slump in the number of mortgages being approved for home buyers by UK banks. The British Bankers Association (BBA) said that in October its members lent 44,105 mortgages for house purchase. That was 19% fewer than in September, and 37% down on October 2006 when more than 70,000 mortgages were lent.
The figures suggest that the housing market is about to go through a significant slowdown due to high prices and higher borrowing costs."

Who'd have thought it? The housing market is collapsing, so what does this government do? They impose an extra cost of moving house - HIPs - genius, sheer genius.

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