11
May
FTBs advised on 'the best time' to buy
The best time for first-time buyers (FTBs) to join the property
market is once lenders start offering mortgage deals with "sensible
levels of deposit", according to Firstrung chief executive officer
Paul Holmes.
Mr Holmes believes that "timing is everything" when it comes to
buying a first home and it is likely lenders have "the best
marketing intelligence bar none" in relation to the property
sector.
His advice follows a recent survey from Halifax, which indicated
that UK houses are at the most affordable level since January
2003.
With prices generally coming down each month for the last year and
a half, now could be the ideal time to invest in bricks and
mortar.
Halifax said that Scotland and Yorkshire-Humberside were the two
most affordable regions of the UK for FTBs.
Meanwhile, the proportion of local authorities in the UK where
property prices currently sit at an affordable level for first
timers has apparently more than trebled since 2007.
