CASE STUDY

A FALL in house prices and mortgage rates would be ‘great news’ for Athena Cauley-Yu because it might enable her to buy her first home.

She has been looking since January for a home near her luxury stationery business, Meticulous Ink, in Bath city centre.

Ms Cauley-Yu, 37, has saved £30,000 for a deposit. She said: ‘I fell in love with a one bedroom cottage – one of the cheapest houses on the market in Bath.’

But her offer of less than the asking price was rejected. Although falling house prices and mortgage rates might be good news for Ms Cauley-Yu, she remains cautious just in case it doesn’t happen.

She said: There’s been talk of that for a long time. If that happens that’s great news, particularly the mortgage rates would have a big impact.’