Advice given on the best time to buy property

Posted: 11 May 2009 11:45:00 GMT

Lenders probably have access to "the best marketing intelligence bar none" in regard to the property sector, according to one expert.

Paul Holmes, chief executive officer of first-time buyer solution firm Firstrung, also said that "timing is everything" when it comes to making the first leap into the housing sector.

First-time-buyers looking to purchase property will find the "best time" for them is when lenders start offering mortgage deals that have "sensible levels of deposit".

His comments come after Halifax recently indicated that property is at its most affordable level since the start of 2003, which suggests that it could be an ideal time to try and find a new home.

Scotland and Yorkshire-Humberside were the two most affordable regions of the UK for people looking to get their first property.

Overall, the proportion of local authorities where house prices are at an affordable level for first timers has more than trebled in the last two years, the study said.


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