First-time buyers ready to relocate reports Abbey mortgages
Abbey Mortgages found that 25 per cent of first-time buyers (FTBs) would consider moving simply to afford a new built property, leaving a further 16 per cent relocating abroad.
Head of Abbey Mortgages, Nici Audhlam-Gardiner commented: "It's interesting to see the lengths that people are prepared to go to for their first property. Despite the apparent difficulties faced by FTBs, potential homebuyers still have a number of options that "don't require taking such drastic measures".
Only a few days gone, managing director of 1st Property Investment, Andy Smith said that following the latest contraction of the credit market; would-be homeowners are expected to discover - more of a selection via properties.
Mr Smith feels that FTBs will now be in an "extremely well-built position" as the decelerate in the market starts to worry those looking to sell property.
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