Lenders Raise Mortgage Rates.
7th December 2009
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A report this week (22/11/09) shows that many mortgage lenders have raised their rates which has been seen as lack of confidence in the housing market which suggest we may be facing a double dip said a spokesman from Large Mortgage Loans as Northern Rock & Royal Bank of Scotland both increased interest rates. Nationwide added to the gloom by predicting a downturn in 2010 driven  by unemployment which is forecast to rise. In North Wales we expect rental rates to rise as people find it increasingly difficult to find the huge deposits now required to buy and instead turn to rental as an affordable alternative. This is good news for Landlords and will attract more people to rent out property instead of leaving a property empty due to lack of buyers who can secure mortgages says Coastal Homes who have seen a higher demand for their free landlords information pack in recent weeks Coastalhomes the North Wales Residential Letting Specialist www.coastalhomes.uk.com

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