Not all 'doom and gloom for first-time buyers'

15-Apr-2008

With the Bank of England cutting base rates and many experts forecasting substantial payment shocks for those approaching the end of a fixed-rate deal, first-time buyers are understandably felling apprehensive about the market.

However, the Leeds Building Society has stressed that it is not a completely bleak outlook for those looking for a mortgage.

Karen Wint, general manager marketing & customer services at Leeds Building Society, commented: "Over the last two years virtually all our net lending has been funded by our investors and, as a result, we are much less exposed to the liquidity issues in the market than many banks and other financial organisations. We can, therefore, have a consistently competitive mortgage range."

She added that Abbey has "consistently offered" a broad range of mortgage deals to suit most borrowers, including some fee free or fees assisted deals for customers who require help with upfront costs on a property, which may be of note to first-time buyers.

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