Easier access to mortgages for first time buyers
An expert in the mortage industry has pointed out that if you are a first time buyer, it is getting easier to be accepted for a mortgage.
Ray Boulger still thinks the property market is a tough place but feels that first time buyers will be experiencing slightly higher mortage approval rates.
Ray also noted that if you look at the ability to find an eighty to ninety percent loan six months ago in comparison with now, you would find cheaper pricing and higher availability today.
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Due to the stamp duty limit decreasing to £250,000 for first time buyers he added that there will be a slight increase in the number of mortgagte applications in June but it would only slight.
In April first time buyers made up thirty five percent of house purchases which is four percent lower than the previous month. Figures taken from a property website show that house prices for first time buyers have risen for five months straight.
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