You are here: cherry > Press releases for November 2011 > Nick Hopkinson, Director of PPR Estates, comments on the latest mortgage lending data:

11 November 2011

�Given the slow motion financial train wreck occurring in Euro-land it�s no surprise that mortgage lending is falling again. Homebuyers and banks are all bracing themselves for impact and the housing market is at a standstill by any normal metrics. The major British banks remain massively exposed to the almost certain debt defaults that are coming down the track and further mortgage lending is off the table for the now. �Even if lending were to become easier, struggling homeowners are grappling with soaring inflation, shrinking household incomes and little prospect of personal finances improving in the foreseeable future. House prices are bound to continue to drift downwards over the winter against this backdrop. When the Euro-crash eventually impacts, house prices may take a severe turn downwards as credit dries up completely.� If you would like to speak to Nick, you can contact him on 07768 144497.