Many first-time buyers are still finding it hard to secure a mortgage, an expert has highlighted.
Affordability is one of the main problems, noted founder of Briffy.com David Amstell, who pointed out that although house prices are falling, mortgages are hard to come by.
"Everybody has been hanging around now for a few years waiting for things to pick up and they are just not picking up. Money is not cheap still and jobs are still dropping away," he explained.
Mr Amstell stressed that although fewer people are hoping to get on the property market, mortgage lenders are cautious who they lend to in the aftermath of the global recession.
Rightmove recently revealed that the proportion of those intending to buy for the first time in the next 12 months recovered from 22 per cent to 26 per cent in just one quarter.
Furthermore, the amount of couples buying for the first time rose from six out of ten to seven out of ten, as fewer people seek to make a purchase on their own. |
0 comments
