London, England (PRWEB) March 07, 2012
On 29 February, the Bank of England released figures showing that mortgage approvals in the UK, for January 2012, were at their highest levels since 2010. However, property investment strategist, Rick Otton, believes that the figures are more a result of buyers rushing to beat the stamp duty ?holiday? which expires on March 24, rather than a shift in the mortgage lending market.
Mr Otton in well known for his creative approach to property investment, which work outside of the traditional lending system, i.e. the banks. He believes that there will be no real change in the home ownership figures until more people look beyond the banks to alternative, and more creative, property investing strategies.
?It is hardly surprising that the big banks want to talk up any increase in the mortgage approval rate? said Mr Otton. ?It is in their interests to maintain the perception that the only way to purchase real estate is through their traditional channels.?
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