First-time buyers 'should talk to mortgage advisors'

06-Aug-2009

First-time buyers have been encouraged to talk to a mortgage advisor to find out what their best options are.

While house prices are relatively low there will be an increase in demand from people looking to get a step on the property ladder, explained managing director of FirstRungNow.com Helen Adams.

In general, those looking to put down the deposit for their first house are getting older, she stated.

Even though many will have help from their parents – either by acting as a guarantor or through a joint mortgage – Ms Adams noted there are options for those who do not have the support of a family member.

She said: "The best thing about mortgages … [is that] you [can] get a good mortgage advisor that knows how to pick through them and see what they can get.

"There is also the government's Home Buy Scheme which is a possible solution."

In conclusion, Ms Adams recommended first-time buyers speak to a mortgage advisor or home buy agent for help.

According to the Council of Mortgage Lenders, the average age of people getting onto the property ladder is 37.

First-time buyers trying to work out how much deposit they need to save up for a property might be interested to know the average house price in 2014 is expected to be £227,800, according to the National Housing Federation.

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.

Nationwide reports house price growth
Property expert assesses mortgage market
Research is 'vital' for first-time buyers

2012: Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar