Nationwide launches 'honeytrap' mortgage as house prices fall – Telegraph Blogs
Nationwide is launching 95pc loan to value (LTV) mortgages to make it easier for first time buyers to get on the housing ladder at the same time as it reports house prices are still falling.
Britain’s biggest building society reckons house prices fell by 1.3pc during the year to April to a national average of just over £165,600. Prices slipped by 0.2pc last month.
Observers who believe house prices remain over-priced and will fall further when interest rates and unemployment rise – such as housepricecrash.co.uk – may suspect the return of 95pc LTV mortgages could prove a honeytrap for first time buyers; tempting them to pay more today than these properties will fetch next year.
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