13
Jul
First-time buyers advised: don't rush into things
Any first-time buyers looking to step on to the first rung of the
property ladder have been offered some advice by one firm.
FirstRungNow.com has encouraged people to spend some time hunting
around for the best mortgage they can find.
They should also not be scared of going for a fixed-rate deal as
they can have their advantages, especially with so much uncertainty
in the financial markets at the moment.
Helen Adams, managing director of FirstRungNow.com, urged potential
new home owners not to rush into anything.
"Think carefully about whether this is the right time for you
– you'd have to get a good property bargain and a reasonable
mortgage for this to be a good time to step on to the property
ladder," she said.
At the end of June, Moneyfacts.co.uk reported that the average
two-year fixed-rate mortgage deal increased to 5.08 per cent, while
five-year fixed-rate mortgages increased to 0.18 per cent.
