House prices may be close to stabilising
While house prices may be set to stabilise by the end of the year mortgages will remain a distant hope for many first time buyers. The chief economist at the Royal Institution of Chartered Surveyors, Simon Rubinsohn, stated that he expected house process will stabilise from the middle of this year and that reports of an overall 45 decline in prices where “overly-pessimistic”.
Although he did say that lenders were unlikely to start offering high loan-to-value (LTV) mortgages this year, despite the news that Lloyds TSB has launched a 95 LTV loan this month.
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May 21st 2009