We’ve had a year of bad news on many fronts. We all first learned of the credit crunch last July and it probably took a bit of understanding for most of us. Then gradually we saw in dismay the effects on individuals and businesses across the country – these effects are still being felt. In the last few months however there has been nothing but good news in the Mortgage Market. First there was that odd change in banking practice which allowed the Bank of England to step in and inject liquidity into the market. Then the Libor rate came down followed tentatively by a few mortgage rates. Recently mortgage availability improved dramatically with plenty new products available and signs of mortgage providers competing for business. Now even 95% mortgages are available and amazingly rates are down to very close to what they were when the whole process started last July when the Northern Rock was forced to go cap in hand to the bank of England for money. On top of all that we have the Government’s “help the market” package which was criticised in some quarters but still provides definite savings for buyers in the crucial “£125,000 to £175,000” price range. Even better news for house buyers – less good for house sellers – is the fact that house prices are down in most areas – but crucially there remain huge numbers of houses on the market. This means deals can be done and buyers will steadily become aware of that. Like all market movements there will be a turning point. Have we reached it yet? Maybe not quite, but we seem to be edging ever more closely to it and it may not be very long till the “credit crunch” is nothing but a distant and unhappy memory.