Conditions may be ideal for first-time buyers
14-May-2010
Published by Joshua Scott
The opportunity for
first-time buyers to put themselves on the first rung of the property ladder may be better than ever, after new mortgage figures were released.
Short-term fixed-rate deals are now at their lowest level since records began in 1995, with a two-year arrangement carrying a rate of 3.83 per cent.
This compared to 3.92 per cent in March and significantly higher in years gone by, figures by the Bank of England show.
Bernard Clarke, spokesperson for the Council for Mortgage Lenders, commented on the statistics by saying: "It indicates possibly a slight continuing improvement in mortgage funding conditions. But there is still a longer-term problem in terms of filling a funding gap."
With increased lending and lower rates a theme of previous months, the time may never be better for
first-time buyers to seek mortgage advice and attempt to purchase a home.
The future of the housing market will, according to many experts, now rest on the success of the UK's new coalition government.
How to buy a house from finding your
first property,
first time buyer mortgages,
mortgage advice,
shared equity,
shared ownership,
joint ownership,
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HomeBuy. All a
first time buyer could need as well as first time buyer news at FirstRungNow.com.
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