Mellow fruitfullness...

According to our friends at the Council of Mortgage Lenders (CML), mortgage lending in July was down 1% from the same month last year. Also, bear in mind, that a part of the ‘Help to Buy’ scheme, introduced to assist high LTV but trustworthy buyers, to purchase re-sale homes, is set to demise at the end of the year. The scheme has helped particularly those for whom the ‘Bank of Mom and Dad’ is shut/ broke. So we need to be careful not to let the market slump to a point where some first-timers are excluded from this major part of the market and where the buyers are predominantly investors. Hopefully the Government will think again...