Buying a house is not “that difficult”
NatWest Chairman Sir Howard Davies claims!
Buying a house in
the UK is not “that difficult”, according to banker Sir Howard Davies, who is
paid £763.000 a year by NatWest.
His remarks in a
BBC interview have caused outrage, especially among the ‘generation rent’ who
are struggling to save for a deposit while rental prices reach record highs and
the cost of living crises continues.
This week, the
average two-year fixed rate is 5.83%, while a five-year deal was 5.43%,
according to Moneyfacts.
He Halifax
Mortgages say mortgage rates are easing and buyers' confidence could increase
in the coming months.
They added that
house prices rose for the third month in a row to average £287,105 in December,
but it forecast a fall this year with buyers perhaps becoming more cautious due
to economic uncertainty. Their data shows annual rise of 1.7% in 2003 and 1.1%
month-on-month rise in December.
Halifax is the UK's
biggest mortgage lender, but its own lending figures only take into account
buyers with mortgages - about two-thirds of all sales - and do not include
those who purchase homes with cash or buy-to-let deals.
Figures from the
Bank of England published on Thursday showed the number of mortgage approvals
rose slightly in November.
Many sellers have
had their properties o the market for as long as two years and not sold despite
dropping the asking price.
Earnings and cash
saving are falling behind values of assets, such as stocks and shares, gold and
silver and property prices rises.
Inflation is eating
away at your savings and cash.
Chinese shadow bank
files for $63 billion bankruptcy.
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#money #gold #silver #inflation #natwest #propertyprices
#rent #generationrent #investing
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