Singles and non-state employees not getting mortgages says auctioneer

Potential house buyers not working in the state sector, are finding it virtually impossible to get mortgage approval, according to local auctioneer and councillor, Aidan Davitt."Unless they're in extremely stable jobs, such as Government-type or civil service jobs, maybe teachers or nurses, they're just not getting approval," Cllr. Davitt told the Westmeath Examiner this week."We have a lot of people employed in the construction industry and all the auxiliary industries - engineers, and architects - and they're not as keen to give mortgages to any of those guys."The self-employed are also finding it extremely difficult to obtain mortgages, and the clampdown on credit is also pushing single buyers out of the market, he believes."They are looking for two wages. Only if you are in a good state job and earning enough money will they consider a single buyer," Cllr. Davitt says.Until the banks start relaxing their lending criteria, the number of people actually managing to buy will be well behind that of people willing to buy he believes."Unless the housing market is going to move on a bit, no-one is going anywhere," he warns.On the plus side, he believes the slide in house prices has slowed."The fall in prices has been only about 5 per cent in the last six months. There had been quite large falls before this, but they've certainly eased, but there are loads of people looking at houses, and a decent bit of stock shifting."Auctioneers are now ensuring that potential buyers have their finance in place before they can agree to buy, because of the danger of buyers agreeing a deal - but then finding their mortgage applications turned down."