First-time buyers 'confident'

13-Feb-2008

First-time buyers are on the increase and have not been undeterred by having to spend more on a deposit, according to new figures.

Data from the Spicerhaart Financial Services monthly survey into mortgage transactions has found that there were two per cent more first-time buyers in January than in December.

The survey also found that first-time buyers were responsible for a third of all property purchases made during January.

Commenting on the figures, Steve Cox, operations director for Spicerhaart Financial Services, said: "Those just starting on the property ladder have been encouraged by the drop in the base rate, but have not been put off by the need to put down a larger deposit."

He went on to point out that first-time buyer confidence was vital to rejuvenating the property market as a whole.

Spicerhaart offers financial services through its Mortgages Direct subsidiary to 300,000 customers each year.

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