Friday, June 9, 2006
Category:
Secured Loans
It appears that the size of secured loans is set to continue to grow over the course of 2006, as yet another piece of research is predicting an upturn in property values.
A new survey released by the Building Societies Association (BSA) has revealed that Building Society Chief Executives believe property prices could rise by between four to five per cent over the course of 2006, meaning that the cost of buying a new property is set to increase.
"Building society bosses are experts in the mortgage market and it is good news that they think the market will remain buoyant in 2006," revealed Adrian Coles, director general at the BSA.
The news means that more people taking out loans secured against their property will be able to borrow more money, as the value of their homes increases.
"Existing homeowners will benefit from above inflation returns," added Mr Coles.
The report from the BSA discovered that over 89 per cent of building society chief executives polled revealed that they anticipate the market will remain buoyant in 2006.
