Expert: Now's a good time to buy property

24-Jun-2009

Now is an ideal time to purchase a home, according to Stuart Law, chief executive of property investment adviser group Assetz.

First-time buyers who can afford a mortgage may therefore wish to seize the opportunity to own bricks and mortar, it would seem.

Mr Law said that house prices are likely to firm up in the coming months and this comes after Nationwide Building Society and Halifax both reported an increase in housing values in May.

"Without a shadow of a doubt prices are rising," he explained. "It is never going to be any better [to buy a house] than today."

Earlier this month, the Council of Mortgage Lenders (CML) revealed that there were 13,500 first-time buyer mortgages lent in April, and these were said to be worth £1.4 billion overall.

In a statement, the CML said that the average first-time buyer had a 25 per cent deposit and borrowed 2.96 times their income.

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.

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