The property market is currently exhibiting signs of long-term cooling, according to an industry body.

John Slaughter, director of external affairs for trade association the Home Builders Federation, notes a lull in the market in recent months.

His comments could spur many Britons to take out homeowner loans, as house prices may have reached their peak.

"The housing market is one that always has elements of cyclicality and fluctuation in it," Mr Slaughter observes.

He adds: "The longer-term backdrop is that the market has been gradually cooling in light of the Bank of England interest rate increases."

Combined with the short-term impact of the difficulties faced by sub-prime lender Northern Rock, this could have put a halt to the rise in house prices seen in recent years.

As a result, the maximum amount available in the form of homeowner loans could also be at its highest value, making this the ideal time for Britons with property to take out such lending.ADNFCR-1287-ID-18371957-ADNFCR

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