News Article Published:
Friday, 19 October 2007
Category:
Financial Services
Mortgage providers can continue targeting customers as new figures released show that 62 per cent of non-investing Britons are confident house prices will continue to rise.
Data published by the Association of Investment Companies shows that despite seven per cent of non-investing Britons are losing money on a second home or buy-to-let property, nearly two thirds still believe that houses are still a good investment.
"The general public and active investors' optimism in the housing market could well be misplaced as there is increasing evidence that the housing market is slowing down following five rate rises and the recent credit crunch," said Annabel Brodie-Smith, communications director of the AIC
Some 44 per cent of home owners retain a positive outlook about their personal finances despite six per cent losing revenue,
The figures were released as the International Monetary Fund announced the UK housing market was 40 per cent overvalued and so set to crash.
And even if it doesn't financial providers might benefit from advertising to people looking to escape current mortgages looking for secure loans or remortgages.
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