First time buyers choosing 100% mortgage deals
First-time buyers are trying hard to get their foot
on the property ladder, however recently first time buyers have
become more determined than ever before and are now choosing
100% mortgage deals to fund a home.
The Fair Investment Company have explained that while overall
interest in mortgages have decreased over time, the share of
this that has increased from first-time
buyers has in fact moved
Towards the start of 2007 they witnessed 56 per cent of mortgage
enquiries, through time this has jumped to 74 per cent throughout
the last three months.
To add, the information showed that first-time buyers are searching
for 100 per cent mortgages with growing regularity, with exploration
into commodities of this nature now summing up for 92 per cent
Director of Fairinvestment.co.uk, James Caldwell commented: "Britain's
love affair with the property market is far from over, despite
the recent dip and the gloomy forecasts for the next few years."
Nevertheless, John Charcol mortgage
lender only just estimated
that the market would prolong to slow in rapidity, leading to
dips in the base rate next year.
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