If House Prices Are About To Fall Should You Wait Longer To Buy?

13th July 2023

The housing market may go into freefall as mortgage rates become unaffordable for many people.

Rate for mortgages hit level not seen for many years and the prospects for house sales looks as if there will be more coming on the market at the same time as mortgages are harder to afford.

The interest rate rises hit at the same time as energy prices are very high and cost of living of almost everything is soaring.

Private landlords may have a mortgage on their properties and have to pass on the higher rates to tenants or sell up.

Deposits to buy a house are now higher than for many years.

If you are looking to buy there is lot of good advice around but think hard about all the incidental expenses - estate agent fees, solicitor fees, survey fees, removal expenses. For a web site with information go to url=https://www.thisismoney.co.uk/money/mortgageshome/article-11671251/Average-time-buyer-deposit-62-500-Halifax-data-shows.html]This is Money[/url]