First-time buyers 'crucial to mortgage market'

09-Apr-2008

First-time buyers are a vital component in keeping the property market healthy, an expert has said.

Rebecca Atkinson, news editor of personal finance magazine Moneywise.co.uk, said that there are ramifications for the whole market if this particular group encounter difficulties obtaining a mortgage or getting on to the property ladder.

She went on to use her own personal experience to illustrate the importance of a regular influx of first-time buyers.

"When I sell it a first-time buyer will probably buy it. If there's no first-time buyers then I can't sell and I can't move up the ladder," she explained.

Ms Atkinson added that many homeowners believe they will be unaffected if first-time buyers are struggling to get on the property ladder, but stressed that the group are imperative to keeping the whole mortgage market moving

Moneywise is a personal finance magazine which provides consumers with financial information on a number of products.

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