Friday 10th August 2007
It is easier to obtain mortgages in the UK than in other European countries, an expert claims.
Paul Collins, property editor for BuyAssociation, suggests that continental European buyers may find more difficulty in securing mortgages than their British counterparts.
"Theres a difference in cost and what people tend to forget is that its incredibly easy to get a mortgage in the UK," he says.
"Weve certainly got a property culture in terms of not only buying property but of moving property as well."
He adds that there is a greater tendency among Britons to view property as an investment and rent it out to others.
Mr Collins comments follow the news that unfair exit fees for consumers wishing to leave a mortgage deal are to be clamped down on by the Financial Services Authority.
Ray Boulger of independent mortgage broker John Charcol previously stated that "time is up" for such fees in light of the announcement.
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