First Time Buyer

The property market has always been an intimidating place for the first time buyer. Over the last few years, the property market has yo-yoed between boom and bust, making that first time buy very much a hit and miss affair. Prices have risen rapidly, making it difficult for first time buyers to get a foot on the property ladder. But the brakes have been put on the economy and house prices are not increasing as rapidly any more. In fact, now is the ideal time for first time buyers to get into the market.

The housing market saw a stagnation over the past 12 months and there are plenty of sellers desperate to find buyers for their homes. Many of these sellers were first time buyers themselves now looking to move up the ladder, so the houses available are ideally suited for those looking for their first home. First time buyers are also more appealing to sellers because they are not in a chain or long list of people all dependent on each sale of a chain completing on time. Mortgage lenders are now starting to lend more readily and prices are definitely more ‘negotiable’ as estate agents try to get the property market moving again.

The real benefit of taking out a mortgage at this point is that interest rates are at an all-time low, meaning that first time buyers can take advantage of mortgage opportunities such as fixed rate deals. A building programme instigated by the government that includes a higher proportion of affordable housing for first time buyers has also opened up opportunities for young couples in particular to get into the housing market.

There’s never been a better time to consider your first time buy but if you’re still a little unsure as to how to begin the process, talk to us and our team of experts will take you through the process step by step. We can help you get your foot on the first rung of the property ladder.