The beaten down property market and the hassled homeowners looking for some respite

Posted under General by Michael

The Home Builders Federation (HBF) the industry’s trade body has urged and appealed to the government to support the market. The Prime Minister, Gordon Brown, after apprehensions that property prices were likely to fall by ten percent, announced measures to boost the housing market.
 
A spokesperson for The National Housing Federation (NHF) also recently emphasised the importance of social housing in background of the uncertain market conditions. In the meanwhile, there was some respite for the worried homeowners after HSBC bank extended rate matching mortgage to those homeowners with fixed rate mortgage maturing before August 31. They now will be eligible for loan up to 80 per cent, subject to affordability clause. The extension of services has resulted in four fold increase in sales since 14 April.

Quantum of loan and interest rate will decide the amount of fees required to be paid initially. A fee calculator is available on HSBC web site. Homeowners just need to visit HSBC local branches to avail the services.

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