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Sun puts spring in step of homebuyers

Sun puts spring in step of homebuyers

Category: Mortgages

Updated: 10/05/2011
First Published: 10/05/2011

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

The good weather has got homebuyers pounding the streets in a welcome boost for the property market.

The sun has been credited by the Royal Institution of Chartered Surveyors (RICS) with playing a part in a rise in the number of properties viewed by potential buyers in April.

Meanwhile, the amount of houses being put up for sale also increased during the month, as sellers returned to test the spring market.

Although spring is traditionally a busier time of year for the property market, it was also suggested that a stabilisation in property prices might have tempted many people back.

Yet despite the improving conditions, RICS said many potential buyers are still experiencing difficulties in finding and securing the mortgage finance that they need to proceed.

Indeed, surveyors went so far as to say that 'only the cash-rich are able to really take advantage of the market'.

Michael Newey, RICS housing spokesperson, said that while the return of sellers to the market is a positive, activity still remains subdued and is unlikely to pick up materially over the coming months.

"Although there are signs that some lenders may be reducing their grip on the purse strings, in particular with mortgages aimed at first time buyers, there is still a long way to go before lending levels increase enough to have any real impact," he added.

While it is true that the number of mortgages on the market is not as high as it once was, things are improving and there are some cracking deals available if you know where to look.

Whatever type of mortgage you're looking for, the Moneyfacts mortgage best buy charts will have a deal that suits you.

HSBC, first direct, Yorkshire Building Society, ING Direct; all have some excellent mortgage deals on offer at the moment.

Woolwich Mortgages has also set up a unique number for customers keen to take advantage of its mortgage deals – 0845 070 2453.

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Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.