Now is "one of the best times ever" to buy property

22-Sep-2008

The current market situation makes this one of the best times to buy property, according to one industry expert.

Andy Smith, managing director of property investment firm 1st Asset, says that first-time buyers with cash in the bank or smaller loans are in a good position.

This is because people have waited to see what Gordon Brown would do over the summer, but he did "nothing", Mr Smith explains.

"For investors that have cash in the bank or are looking for smaller loans, this has got to be one of the best times ever to buy property over the last 20 to 30 years," he comments.

The collapse of Lehman Brothers will bring more confidence back to the market as there have been reports that the government will shore up any UK bank to prevent a similar situation, Mr Smith adds.

Earlier this month it was revealed that Barclays agreed to acquire the assets and businesses of Lehman Brothers.

Days later Lloyds TSB and HBOS announced a merger, with reports that the government had played a "key role" in the negotiations.

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.

FTBs could face tough timesHomebuyers urged to seek independent financial adviceFixed-rate mortgages remain most popular option

2012: May | Apr | Mar | 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