BSA mortgages report suggests accessibility is less of an issue

Date:Wednesday 15th September 2010
Author: Susanna Kavka

A Building Societies Association (BSA) mortgages study has shown that people are becoming less enthused about buying a house in the current climate.

However, head of mortgage policy at the organisation Paul Broadhead noted that accessibility to mortgages does not appear to be the problem.

He explained that 50 per cent of respondents saw their ability to secure a mortgage as an obstacle in September, whereas this figure stood at 57 per cent in March 2010.

"Job security remains a barrier to house purchase and is likely to remain so until there is greater confidence in the strength of the economy," Mr Broadhead noted.

In his opinion, concerns about house prices are also taking their toll on the industry.

The BSA mortgages research indicated 21 per cent of people did not think it was a good time to buy a house in July, whereas this figure has risen to 26 per cent for September.

Last month, the institution revealed that gross lending by mutuals had reached a high for the year in July, standing at £2 billion for the month.