Charcol has denied the launch of its negative equity mortgage product next month suggests the housing market is in danger of crashing.
According to senior technical manager Ray Boulger, the product is aimed at fist-time buyers wary of putting their feet on the first rung of the property ladder. “We do not think house prices are going to fall at all. It will remain a buyers market for the time being but we think the market will pick up towards the end of the year and the insurer’s covering this product would not cover it if they believed the market was going to fall either. “What we are saying to people is that we recognise there may be many potential first-time buyers out there that have concerns about buying a house...
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