Cash buyers of property could take advantage of market conditions that had halved the number of mortgage-backed buyers in a decade , according to estate agency Savills . It said a tightening of lending rules had cut the number of people relying on mortgages from 653,000 a decade to 370,000 this year . Other market observers said cash buyers could benefit from sellers who wanted to sell before a decade ago being prepared to cut their asking price. Experts say that for cash buyers not reliant on borrowing, this presents an opportunity, because sellers who are desperate to offload their properties before Christmas are prepared to drop their prices. Discounts of up to 20% are already available in London . Buying Solution consultant Thea Carroll said a stagnant market offered a “trump card” for cash buyers.
Cash buyers of property could take advantage of market conditions that had halved the number of mortgage-backed buyers in a decade , according to estate agency Savills . It said a tightening of lending rules had cut the number of people relying on mortgages from 653,000 a decade to 370,000 this year . Other market observers said cash buyers could benefit from sellers who wanted to sell before a decade ago being prepared to cut their asking price. Discounts of up to 20% are already available in London . Buying Solution consultant Thea Carroll said a stagnant market offered a “trump card” for cash buyers.