Would-be international mortgage customers are being held back from entering the housing market by their fears over property industry instability and concerns about their own personal finances .
These are the findings of the recent Genworth Financial International Mortgage Trends Report, which surveyed more than 9,000 people across five continents.
Focusing on Australia, Canada, India, Ireland, Italy, Mexico, the UK and the US, the study looked to gain an insight into some of the world's main mortgage and property markets .
The general consensus was that buyers are adopting a 'wait and see' attitude, while respondents in many countries were more concerned about personal finances than their nation's economy.
Despite this, many of those questioned said that there are currently opportunities in the property market for those who can afford to buy.
"We hope the findings in this report help to encourage a deeper understanding of the challenges that are likely to shape business strategies in the near to medium term as well as provide the mortgage industry in all markets with insights that help identify future opportunities for business growth," explained Genworth Financial president of US mortgage insurance Kevin Schneider.
Meanwhile, the cost of obtaining a UK mortgage could remain low for the foreseeable future after the Bank of England opted to keep the base rate of interest at its historic low of 0.5 per cent.
International mortgage customers held back by fears
Tue, 14 Jun 2011
