Mortgages Uncovered

Now, forgive me if this might sound a little bit obvious, but if there are fewer mortgages available and less mortgage approvals at the moment, then isn’t it going to make sense that housebuilders will also be affected?

Well, investors in housebuilding companies were apparently surprised yesterday at the effect it has had – doh!

Persimmon, one of the UK’s largest housebuilding companies, revealed their sales were down a quarter compared with last year and in the last three weeks – normally the strongest in terms of sales – sales have dropped even further.

How can people be surprised at this?

Persimmon has now said that it will not be building any new sites until the mortgage market has recovered because there are just not enough mortgages to facilitate the new homes.

More mortgage information:
Prestige Car Hire from Dream Car Hire.
Ford Cars UK here at Matlock Ford
Wedding Cars Somerset
Self Catering Somerset
Chip Tuning