BSA: Britons showing more confidence in mortgages

17 September 2009

Written by Gavin Elley

Britons feel there is less of a barrier to securing mortgage finance than earlier in the year, new research shows.

According to the Building Societies Association's (BSA) Property Tracker, confidence in the property market is growing and one of the reasons for this is that homebuyers think access to home loans is improving.

Whereas the study revealed in March that 58 per cent of respondents saw the availability of mortgage finance as a barrier to house purchasing, this fell to 55 per cent in June and 49 per cent in the most recent survey.

Meanwhile, 58 per cent of Britons think now is a good time to buy a property and they expect the value of property to grow 1.6 per cent over the next year.

And in the week that the Office for National Statistics indicated that 2.47 million people in the UK were unemployed during the three months to July, the BSA research found that job security is perceived to be the most significant barrier to buying property.

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