Better access to mortgages hasn’t translated into an increase in property purchases

Despite the improving availability of mortgages on the UK housing market, no increase in consumer confidence has been observed so far. 

The latest survey carried out by the Building Societies Association has shown that the percentage of consumers who think it is not the right time for property purchases has made up 26% in September, compared with 21% in June.

What is more, the survey revealed that the lack of job security and insufficient funds for putting down a deposit are still the major obstacles to house acquisition.
 


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The cultural transformations that have made people accept life in debt have had a direct impact on the approach youngsters take to money matters, which could lead to negative consequences in the long run as many of the next generation would resort to IVAs to cope with serious financial issues.

When we put efforts into our work and get paid for this, we get an amazing feeling of satisfaction. Our hard hard work seems to have been remunerated financially. We go shopping and buy the items we need and the items we simply want.