Mortgage demand rises at fastest pace in 6 years.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/10559343/Mortgage-demand-rises-at-fastest-pace-in-six-years.html.

Here we go again, the usual formula:- BOE reduces interest rates, Government lends money to housebuyers , house prices shoot up but many people still cannot afford to buy.slump in house buying leads to unemployment and devaluation of house prices.

There is a lot to be said for the Sharia Banking system. They lend money to couples wanting to buy but keep the deeds until the loan has been repaid by way of Rent. What a simple idea, why can't British Banks do something similar to avoid these fluctuations. Also, many people in Europe rent their properties and are not fazed by increasing and decreasing values