Rics: Transactions to pick up through 2010

Recent figures published by the British Bankers' Association BBA have broadly corresponded with figures published by the Royal Institution of Chartered Surveyors Rics, those concerned about mortgage rates may be interested to discover.

Simon Rubinsohn, chief economist at Rics, reported that the BBA figures showed that house purchases have risen "a little" but have remained largely flat.

He said: "The lack of availability of mortgage finance remains a key issue for the market but this is now being compounded by uncertainty around the outcome of the general election and the possible implications for the housing market."

Mr Rubinsohn predicted that transactions are likely to pick-up as the year progresses due to a growing number of properties coming onto the market.

David Dooks, statistics director at the BBA, stated that many homeowners are taking advantage of the low mortgage rates by making and maintaining higher repayments than they are required to.

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2010-04-29 13:44:22 © Moneyextra.com