House Market Continues Recovery
With the housing market continuing its recovery there are calls from many industry figures to try to limit prices increases across Britain. In what would seem like a very difficult task experts believe that the Bank Of England should use some of the tools at it’s disposal to stop house prices reaching unsustainable levels.
Whilst these comments have been welcomed from some parties other people are saying that there is no need to do anything at the present time as the party has just getting started and only a few buyers have been invited to it. Many buyers have taken advantage of the current schemes being offered by the government and the Bank Of England which have been directly responsible for the recovery in the housing market.
The government’s Help To Buy Scheme scheme has been very popular amongst buyers which is not a surprise. This is backed by the tax payer and we are all on the hook for the deposits that are currently being handed over to buyers across Britain. The government has set out it’s stall and it would seem it is going to continue with it’s second phase which will be introduced in January 2014. The banks and building societies are also taking advantage of the governments Funding For Lending Scheme where they are being encouraged to lend cheap money to borrowers. This has been a success and is another driver for house price increases.
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