First mortgages could be a step towards long-term financial security

14-Jun-2010

Published by Joshua Scott

First mortgages could be combined with pension plans to ensure economic comfort in old age, argue property experts.

Getting on the property ladder is often considered a good way to secure assets for later life.

Buyers who don't have the necessary capital for a first-time mortgage could consider shared ownership as a means to enter the housing market.

Property expert Sofie Allsop argues "bricks and mortar are still a good investment", but suggests a pension plan could be one option for first-time buyers looking for security in old age.

Paul Goodwin, head of pensions at Aviva, notes "a cross-section and diversity of savings" will ensure individuals maximise returns on their investments.

First-time buyers may be reassured by recent rallying of property prices. Data from the Land Registry shows all property in England and Wales increased in value over the last 12 months.

The highest change was in London, where house prices rose almost 15 per cent, reports the department.

Finding your first mortgage is easy if you let someone else do the work! Read about it here or request first mortgage specialist advice.

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