Now is the time for aspiring homeowners

25-Jul-2005

New figures have suggested that first time buyers are returning to the property market, as they recognise the fact that there is now a buyers' market emerging.

Click here for advice on first time buyer mortgages or to find out how much you can borrow and how much it will cost you, from the UK’s leading High Street Brokers, Bradford and Bingley

According to online mortgage broker, My Mortgage Direct (MMD), there has been a 23 per cent increase in the number of aspiring first time buyers applying for mortgages between April and June.

That is up from a five per cent increase during the first three months of 2005, and represents the fact that more aspiring homeowners are taking advantage of slowing property prices to get themselves onto the first rung of the property ladder.

As price inflation continues to slow down, it is getting easier for first time buyers to find themselves a bargain, by negotiating the price of a property with sellers keen to offload.

Click here to ask about the legal costs of house-buying or to ask a legal question specific to your own situation

Finding a mortgage is also getting easier, because many mortgage providers are developing an increasing range of first time buyer mortgages to bring in more aspiring homeowners onto the property ladder and prevent the market from stagnating or crashing.

All these factors are coming together to make conditions for first time buyers much more favourable than this time last year, and therefore experts are urging aspiring homeowners to take the opportunity to find themselves a bargain.

To find out more about creative mortgages designed specifically for first time buyers click here

Click here for our first time buyers guide to buying a property

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