It has been announced that the level of consumer confidence in the mortgage and property markets is still low, despite claims that lenders may be easing up on mortgage lending to some consumer groups. Although there have been some recent improvements in the mortgage markets in the UK consumer confidence is still suffering, according to a recent report.

New figures have been released by the Building Societies Association, with officials stating that a large number of people in Britain are still not confident when it comes to the mortgage and property markets. The figures were compiled as part of the September 2010 BSA Property Tracker Survey. The figures showed that the number of consumers who lacked confidence in the markets increased from 21 in June to 26 for this month.

A large number of Brits do not believe that now is a good time to invest in property, according to officials involved in the survey, and there were many others who cited a number of factors as barriers to being able to purchase a property. These barriers included lack of job security in the current financial climate and difficulties in raising a deposit given the high level of deposit that some lenders were still demanding. More than 56 percent of respondents to the survey gave these reasons.

The BSA said that whilst access to mortgages was now better than it was earlier in the year many people were still left out in the cold due to factors such as job security, their credit history, and their debt levels.

BSA head of mortgage policy Paul Broadhead said: “It is clear that concerns about future falls in property prices are having a significant impact on consumer confidence.”

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