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Struggling mortgage holders `should seek advice` Remortgage enquiries `rise in June` Mortgage approvals `up in June` UK mortgage market remains weak, CML says Consumers `should avoid lying on mortgage applications` BoE releases Trends in Lending report Brits `prioritising debt repayment` "Sensible lending" needs to be restored for home buying Many households `to miss mortgage payments` Homeowners `increasingly paying off mortgage debt` Booklet produced for those facing mortgage repayment problems Local authority defends decision to offer 100% mortgages Mortgage lending levels `still low` CML welcomes campaign on repossessions Consumers `increasingly offsetting savings against mortgages` Banks `should be encouraged to provide more mortgages` Younger and richer people `benefiting more from mortgage reductions` Bank of England cuts base rate Negative equity `concerning UK mortgage holders` Interest rate cuts `were not anticipated by consumers`

Homebuyers `do not rush into the market`

30/08/2007

A leading housing industry expert has claimed that homebuyers do not make snap decisions on which house they want to buy, contrary to new research figures.

Bill McClintock, chief operating officer of the Ombudsman for Estate Agents (OEA), said that although it may seem like homebuyers make quick decisions on house purchases, they only enter the market after months of careful examination of the local area.

Mr McClintock commented: "People might make a quick decision but I don`t think they make a quick decision unless they have done a lot of work beforehand, to work out the sort of property they really want.

Research published by ING Direct stated that homeowners take only 17 minutes to choose their future properties.

The OEA offers an independent service to manage disputes between its member agencies and house buyers and sellers.

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