Equity increases

Figures released yesterday by the Bank of England have shown that UK homeowners have increased the value of their stakes in their properties by £3.26bn in the first three months of 2010. This is primarily as a result of lenders demanding higher deposits from home buyers and higher repayments on existing mortgages. This is no bad thing as the higher this figure becomes then in theory, repossessions should become less likely. This, coupled with the proposal to stop self certified mortgages, can only contribute to a more stable housing and finance market.