News: First Time Buyers
The Council of Mortgage Lenders Report demonstrates a healthier picture in the number of First Time Buyers taking out mortgages.
Andrew Dewar our Joint Senior Partner is sure that part of the reason for this is quite simply the massive surge in rental values, which we have seen due to a shortage of stock coming on the market. He comments:
"As well as the increased rental prices, many First Time Buyers are simply keen to own their own home. I think that if one surveyed a cross-section of the 18,000 First Time Buyers who took mortgages in June, reported by the CML, quite a number would admit to being fed up with the rental concept and feeling their time was right to own. Long may this continue as the market really needs the First time Buyers to help it on its way."
Joint Senior Partner
18th August 2011
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