‘Get lend­ing on the move’

For those lucky first-time buy­ers who can raise the cash there are some great lit­tle prop­er­ties out there as He­len Geraghty re­ports.

Kentish Express Ashford & District - - News -

ent’s es­tate agents have called for banks and build­ing so­ci­eties to step up loans to buy­ers as new fig­ures show the num­ber of mortgages ap­proved has dropped again. Bank of Eng­land fig­ures for Oc­to­ber show that just 32,000 mortgages were ap­proved, 1,000 fewer than in the pre­vi­ous month. The fig­ure now re­flects a drop of 74 per cent in the num­ber of mort­gage ap­provals since this time last year. Neil Boswell, trea­surer for the Kent branch of Na­tional As­so­ci­a­tion of Es­tate Agents and Can­ter­bury-based di­rec­tor of Cax­tons es­tate agency, said: “A fac­tor hold­ing the mar­ket back is this sup­ply of fund­ing. The prob­lem is the banks won’t lend. “For ex­am­ple there are very few first-time buy­ers in the mar­ket. That is a shame as there are some good prices around, such as two-bed­room mid-ter­races in Can­ter­bury for around £150,000. This time last year they would have been snapped up. “It is quite dif­fi­cult out there but we are still sell­ing. I am still sell­ing to buy-to­let in­vestors and to par­ents in­vest­ing in prop­er­ties for their sons and daugh­ters at uni­ver­sity.

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