First time buyers have an appetite to get going

26-Jan-2012

New figures have shown that first time buyers have an increasing appetite to get onto the market, with unbiased.co.uk revealing that first time buyers were the number one mortgage advice drivers in 2011.

The increasing amount of variables that need to be considered when buying a home for the first time is likely to be the reason for the increase in inquests.
Government initiatives and tax-breaks will be one area of concern, as the stamp duty holiday is set to expire on March 25th which could add an extra £2,500 on to properties, according to conveyancing team Irwin Mitchell.

Buy to let mortgages saw the biggest increase in enquiries, jumping to 25 per cent of all enquires in the fourth quarter of 2011. The low supply of houses and the rising demand for rental properties have resulted in making the buy to let market increasingly profitable.

For first time buyers, most activity was seen in August, where they accounted for 41 per cent of all searches.

Rent to Buy can make a good solution for first time buyers looking for a compromise solution

Published by Sam Franklin

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