Trumpo learns of a 2 million pounds private property sale, clearing banks funding a nursing home development, secured lenders increasing loan to value lending limits and all in 1 week.

In what can only be described as tentative steps forward to a recovery, Trumpo is finally starting to see some light at the end of this very dark tunnel. For the first time in a couple of years, Trumpo is receiving phone calls from the property gurus saying “I cant believe it, I have actually sold some houses” and I actually spoke to a developer this weekend saying that he is going to be buying some land this week for new home builds.

Could this be the bottom ? I dont think we are that far off it, but I do feel we have probably another six months of fall out to come. We are however one step closer to some sort of recovery.

This is all good news for those wishing to take a step onto the property ladder and those looking to move home, it’s all about confidence and lenders and banks are starting to sound a little more confident in their press releases and trading statements.

We have had some good news from the Nationwide Building Society this week to boost the market. The Nationwide have stated that they wont be penalising those customers who have been hit with reducing home values and moving towards negative equity, this is extremely fair and correct in my opinion.

If the customers (Members) are still good payers and want to move home or re-mortgage, Nationwide have commited to ”non profiteering” out of those most vulnerbale by not charging higher interest rates (as a result of minimal equity remaining in the home) and similar to those that are fortunate to have oodles of equity in their home. Maybe some of our Govt controlled lenders should take note from the largest building society in the land.

3 cheers for Nationwide Building Society;

Hip Hip Hooray

Hip Hip Hooray

Hip Hip Hooray

I look forward to positive weekly blogs from now on in.

Yours

Trumpo.

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