Landlord Basics

First Time Buyers Make A Comeback!

The last 2 years may have been a harsh time for first time buyers with the majority of mortgage lenders shutting them out with expensive LTV’s, but recent statistics seem to indicate that first time buyers are regaining confidence in the property investment sector.

Discussing their property enquiries since the beginning of 2010, property website unbiased.co.uk have reported record highs of 43% of property searches from first time buyers.

And it would seem that this increased interest in the property ladder has remained high ever since hitting 42% of all mortgage enquiries in February 2010…

Yet it is hard to blame first time buyers for this increased interest when leading lenders such as Lloyd’s TSB are offering dedicated 95% LTV’s of 4.99% to the first time buyer niche. Affordable mortgage deals are back, making it possible for novice buyers to dip their foot once again into the property investment pool and invest in property!

However, this isn’t the only area of the property market to witness increased interest. Remortgage advice too has experienced rapid growths in recent months according to unbiased.co.uk. Of their website searches:

• 33% of all enquiries were from property owners seeking specialist remortgage advice
• 21% of all searches on their ‘find a mortgage advisor’ search option were from property owner’s looking for residential property advice

Assessing these figures, property advisor Karen Barrett, chief executive of unbiased.co.uk, strongly believes that as long as more competitive mortgage deals come onto the property ladder, 2010 could become the year of the first time buyer. Only time will tell…

Related posts:

1. Mortgage conditions not holding first-time buyers back
2. More 90% LTVs For First Time Buyers
3. First Time Buyers Waste Thousands
4. £2.1m Fund To Help First Time Buyers
5. First time buyer levels make up less than a quarter of buyer numbers

Tags: first time buyers. property investment, invest in property, property advisor, property ladder, property market, property website

This entry was posted on Thursday, March 18th, 2010 at 8:41 am and is filed under first time buyers, News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.