Increase in lending could be help for first-time buyers

10-May-2010

Published by Sam Franklin

Help for first-time buyers may come in the form of increased lending through 2010, if new figures are to be believed.

The Association of Mortgage Intermediaries, in its latest Quarterly Economic Bulletin, predicts the amount of cash loaned to people to buy a home will rise from £143 billion in 2009 to £150 billion this year.

It also notes net lending over the course of 2010 will total £20 billion, with slowing redemption levels cited as a reason for this.

The housing market is said to be continuing to grow - albeit at a slow rate, which may suggest long-term prosperity is an achievable target.

"There is a distinct need to ensure that the intermediary sector continues to be supported, in order to provide customers with the full range of advice and help to review all the options available to them," says the organisation.

Helen Adams, managing director at FirstRungNow, recently suggested first-time buyers are still finding it hard to secure a home loan - meaning many may wish to turn to mortgage advice.

How to buy a house from finding your first property, first time buyer mortgages, mortgage advice, shared equity, shared ownership, joint ownership, part buy part rent and HomeBuy. All a first time buyer could need as well as first time buyer news at FirstRungNow.com.

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