mortgages

<p>A recent report claims that many first time buyers are finding it much easier to obtain mortgages to finance their purchase of a property than before. Whereas a third of first time buyers state that obtaining a mortgage is a major problem; which is considerably down from a year ago.</p> <p>The increase in obtaining mortgages for first time buyers is due to mortgage lenders seemingly now lending in circumstances where they were reluctant to a few years ago.</p> <p>Thus recent news from the Council of Mortgage Lenders(CML)  suggest that first time buyers continue to account for a large chunk of the UK’s mortgage market and that mortgage lending for this year is off to its best start ever since 2008. This could contribute to the recovery of the country’s economy. The CML also states that first time buyers account for 42% of all home loans for house purchases during the beginning of this year. Although figures have stayed steady over the last three months, this seems to be much higher than the average rate   sustained over the past decade.  CML also suggest that the number of mortgages advanced by first time buyers for house purchases in January 2013 stood at 38,300. Although the figure is down by 17% for the number of mortgages advanced in December 2012, but the figure is up by nearly 11%, compared to the figures in January 2012.”</p> <p>A survey also suggests that many people believed that the house prices would rise during this year which clearly shows the growing confidence by the public. This will be great news for those who found themselves in negative equity due to the downturn in the market  after the height of the boom in 2006-2007.</p> <p>Mortgage lenders are also introducing lower deposit mortgages for first time buyers since the beginning of the year. This clearly is making it much easier for first time buyers to get onto the property ladder.</p> <p>If you are a first time buyer and would liek further information please contact (0116) 2999199</p>