Case & Management Information
- Claims
- Business/Commercial
- Commercial Disputes
- Debt Recovery
- Employment
- Family/Divorce
- Lender Services
- Property Commercial
- Property Residential
- Tax Returns/Planning
- Wills/Trusts/Estates
Bookmarks
Supply and affordability "challenges" for borrowers in Northern Ireland
06/06/2008
The Council of Mortgage Lenders (CML) has said that the greatest challenge facing borrowers in Northern Ireland remains the affordability and supply of housing in the province.
Solicitors are unable to carry out housing transactions if, as the CML reports, people in Northern Ireland are unable to move.
A new chairman Trevor James is taking on the role of CML chairman in Northern Ireland and it is hoped that he will be able to steer borrowers and lenders through the problems in the housing market.
In a speech to the CML's Belfast lunch, Mr James commented: "Whilst affordability remains the biggest issue, helping those people that are having difficulty with mortgage payments remain in their homes is perhaps of equal importance."
He added that people who are struggling with mortgage repayments should contact their lender in order to help work out a way to improve the situation.
The CML responded to the Bank of England's decision to hold interest rates at five per cent yesterday as what they "expected" the monetary policy committee to do.
Get a quote for residential property legal services
Solicitors are unable to carry out housing transactions if, as the CML reports, people in Northern Ireland are unable to move.
A new chairman Trevor James is taking on the role of CML chairman in Northern Ireland and it is hoped that he will be able to steer borrowers and lenders through the problems in the housing market.
In a speech to the CML's Belfast lunch, Mr James commented: "Whilst affordability remains the biggest issue, helping those people that are having difficulty with mortgage payments remain in their homes is perhaps of equal importance."
He added that people who are struggling with mortgage repayments should contact their lender in order to help work out a way to improve the situation.
The CML responded to the Bank of England's decision to hold interest rates at five per cent yesterday as what they "expected" the monetary policy committee to do.
Get a quote for residential property legal services
