Banks restricted on mortgages 

All the banks and buildings societies hands are tied when it come to new mortgages, hence why they are being so cautious/fussy on who they lend money to at the moment.

Economy Downturn

It doesn’t matter what angle you look from, at a distance it all looks the same. The U.K is in a deep recession and it is affecting everybody one way or another, homes are being repossessed and people are looking to sell and rent back companies for help. Steve Martin our property expert will be giving his views on how the recession started and how long it will be before we get back to the good times.

It seems that we are heading towards the ultimate recession. A perfect storm where growing environmental problems at the same time as the global financial crisis paint an ever gloomier picture.

Leading researchers warn that countries have been living way beyond their means with their overuse of natural resources. Many UK home owners have certainly lived beyond their means and accummulated huge debts, finding themselves in negative equity and at risk of being repossessed.