October 9, 2011
First Time Buyers …Apps On The Up
Last month saw an increase in the number of first time buyers applying for mortgages, according to new data fromfinancial services company haart. The number of applications hit a new high for the last six months and 38.4% were ftb’s.
Most rode the fence and plumbed for 2-3 yr fixed rates mortgages, while a few number instead opted for two or three year tracker mortgage products.
David Miles, Managing Director of haart Financial Services, said: "It is extremely pleasing to see an increase in the number of first-time buyers looking for mortgages, particularly given the well-documented problems this sector of the market has experienced of late accessing finance.
"First-time buyers are a key component of the mortgage market and the increase is a clear indication of the increasing willingness among lenders to support their efforts to get onto the property ladder."
