Negative talk could lead to recession say National Homebuyers

The UK could be in danger of talking itself into recession, causing financial difficulties for millions of people.

[ClickPress, Wed Jan 09 2008] That is according to the Intermediary Mortgages Lenders Association (IMLA), which says that negative predictions for 2008 are damaging consumer confidence.

In recent weeks, a number of organisations have published their forecasts for the year ahead and most have been negative.

The latest set of damaging figures came in the form of the Bank of England Credit Conditions survey, which painted a bleak picture of the UK mortgage market.

The IMLA has warned that if these kinds of forecasts keep being published, there is a real danger that the UK will face a recession and cause financial difficulties for many.

Peter Williams, executive director of the IMLA, said: "We could easily talk ourselves into recession."

Quick house sale leaders National Homebuyers adds that the market is not as bad as some analysts predict. "The market is - at best - in a difficult spot" says director Julian King.

"One cannot argue that there is a tough time ahead, but talk of recession is out of the question.

"Property prices have been hugely overinflated over the past few years, what we are seeing is a levelling of prices. Any talk of recession is simply an attention grabbing exercise".

Mr King is a director of National Homebuyers, the UK's leading quick sale and mortage rescue scheme provider. The company guarantees to make a cash offer to purchase any property in the UK without the requirement for a Hips pack to be in place. The company is also the leading provider of Sale and Rent Back solutions.

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