Results tagged “mortgage”

THE credit crunch is forcing housebuilders to do more and more to entice buyers.

The market has become so tough that major housebuilder Barratt Homes is offering to pay buyers’ mortgages until 2010 if they agree to purchase an apartment at one its Maple Quays or Elektron developments.

Adam Lawrence, regional managing director of Barratt London and Thames Gateway said: “Our customers have told us that they are worried about getting a mortgage and the wider economic picture."

The AVERAGE homebuyer put down a 22 per cent deposit in June, up from 20 per cent in May, according to new figures from the Council of Mortgage Lenders.

The majority of lending continues to be on conservative terms, as lending criteria have tightened in response to the shortage of funding and current market conditions.