No Property Bubble As Mortgage Lending Is Down For August
Figures released by the Council Of Mortgage Lenders show that gross mortgage lending for August was slightly down on July. The Lib Dem Treasury Secretary Danny Alexander said that we were a million miles away from a property boom and that they would continue to do whatever it takes to get the economy back on its feet again. Figures also released by the Office For National Statistics also show that outside of London there is no boom.
The Chancellor will be keen to press on with his plans and introduce the second part of the Help To Buy Scheme which will be rolled out in January. This second tranche of money will be used to buy second-hand homes. Presently buyers that have access to these funds can only use it for the purchase of new homes.
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