First time buyers 'would like to buy now'

13-Mar-2007

A majority of first time buyers would like to buy now, research has revealed.

According to a study by first time buyer advice-site FirstRungNow, 98 per cent of first time buyers would like to purchase a new home, but are concerned that it may not be financially possible.

The survey also found that 74 per cent of respondents believed that over the last 12 months, the different options for meeting the cost of a new property purchase have improved.

However, 63 per cent of potential first time buyers are of the opinion that it might be better to put off their property purchase until 2008.

"I am concerned that only 74 per cent of aspiring first time buyers think that the finance options are better than they were a year ago as I believe there are some really innovative schemes and mortgages for them now," said Helen Adams, managing director of FirstRungNow.

To find out about the different ways of financing a first home, see our section ‘Affording Your First Home’.

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