'Focus on liquidity will help FTBs'

31-Oct-2008

Continued efforts to improve liquidity in the mortgage market will result in more products reaching the market for the benefit of first-time buyers (FTBs), an industry expert has suggested.

Helen Adams, managing director at FirstRungNow.com, said the property market needs mortgage lenders to begin lending more - then more mortgages should become available for FTBs.

Lenders are working on improving liquidity at present and it will be a step-by-step progression before we see an end to the downturn in the property market, she suggested.

Ms Adams added: "We've seen recently the mortgage companies incentivise savers to get more money into their coffers and that will in turn, in time, lead to mortgages being made more available."

Her comments come after Nationwide's latest housing market index - published this week - showed that house prices have now being falling for 12 consecutive months, which could be good news for many FTBs who previously found themselves priced out of the market.

Nationwide reported that the price of an average UK house has lost about £30,000 in value, a 14.6 per cent reduction in value since October 2007.

FirstRungNow.com - how to buy a house, from finding your first flat or first house, first time buyer mortgages, shared ownership, buying with friends, gifted deposit, part buy part rent - all a first time buyer could possibly need.

House prices continue to fallFalling house prices 'a godsend for FTBs'’Good mortgage deals still available’

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