Optimistic attitude for aspiring homeowners

27-Sep-2005

Aspiring homeowners are optimistic about their chances of purchasing a property at an affordable price, according to a report by Alliance & Leicester.

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The survey found a positive attitude among those looking to get a foot on the first rung of the property ladder and indicated that confidence in the market was increasing.

Figures showed that 75 per cent of first time buyers were hoping to find a home for less than the average price, with over a million optimistic of their chances.

This bargain-hunting attitude has resulted in a number of potential property buyers choosing to stay at home, rent free, until they have saved up adequate funds for a deposit.

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Overall confidence has also increased over recent months, with more aspiring homeowners feeling that they could afford a first time property in the near future.

Stephen Leonard, director of mortgages at Alliance & Leicester agreed the mood had lightened and encouraged buyers to make the most of the flexible deals currently available.

"First time buyers are in a good position to take advantage of the positive moves lenders are taking to ease their financial burden," he said.

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