Mortgage lender claims sellers are squeezing agent profit margins by Finance News Bulletin

Published: 09/05/07

Homeowners are using the current heftiness of the property market to their advantage, it has been claimedAccording to information from financial services provider Woolwich, the strength of the UK accommodation market is established by the fact that 19 per cent of properties up for auction are currently changing hands within a month, compared to four per cent in 2006This is allowing sellers to negotiate preferential tax with estate agents and solicitors keen to find houses to cope with demand, according to Andy old, head of mortgages at the mortgage lender "Sellers not only have the advantage of there being more demand for property than is obtainable, thus driving us asking prices, they are also squeezing the professionals for every currency they can to slash the costs of moving," he remarked

However, as many mortgage holders may already be aware, a number of financing analysts are anticipating the Bank of England's financial rule committee will raise the base rate this monthIf this occurs, it could potentially dissuade some buyers from creation bids on properties over fears they will be unable to have enough money mortgage repayments in the long-termnowadays's Most Popular Results Mortgage Enquiry Form Need Life cover ------ Mortgages - Information Mortgages - house ------ Financial Services - houseNone of the information on this website is intended to promote any specific mortgage manufactured goods or provide mortgage advice

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