We’ve commented in the past about the likely impact the Funding for Lending Scheme will have on the market for second hand houses. Well, everyone was talking about it last week as the Chancellor announced that applications from potential buyers would start being processed in advance of its implementation early next year. The result? Plenty of banner headlines in the Londoncentric media about house prices surging. Which is strange since no one knows yet what price Lenders will have to pay to access the scheme let alone what criteria Borrowers will have to meet.It appears that politicians know that simply talking about the FLS is creating the impression that the market is moving again. With a general election now looming over the horizon perhaps this should come as no surprise.
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