Rising house prices may encourage first-time buyer mortgages

02-Jun-2010

Published by Joshua Scott

The property market is continuing its recovery, as home values increase for the sixth month in a row, according to the Land Registry.

People wishing to join the property ladder or considering joint ownership may see this as a good time to hunt for a mortgage, as the market is stabilising, while prices remain low.

First-time buyers seeking mortgage advice may also wish to consider shared equity, where the lender retains part of the value of the house, in return for assisting the buyer with the down payment.

The Land Registry's House Price Index shows an overall increase in property values throughout England and Wales in the last year.

London prices recovered the most in this period, up 14.8 per cent on 2009, with property in the north-east seeing the most modest increase.

Such improvement is the highest annual value gain since 2007 and brings the average property value in England and Wales to £165,596.

The Land Registry is a publicly funded body which registers land titles and records property dealings, such as sales and mortgages.

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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