Current property market 'suits some first-time buyers'

Posted: 02 Jun 2009 12:03:32 GMT

The current state of the property market suits some first-time buyers, according to one industry expert.

Paul Broadhead, head of mortgage policy at the Building Societies Association (BSA), said that it is especially a good time for people looking to get their first home, who have financial support from their parents.

A number of reports, including one from Halifax last month, have suggested that property is at an affordable level at present.

Mr Broadhead's comments came at the recent Building Societies Annual Conference - an event organised by the BSA which brings together over 300 professionals from various sectors.

Building society directors and senior executives are joined by experts from the world of mortgages and insurance, as well as government officials and media representatives.

The BSA's head of mortgage policy said: "The mortgage rates are historically low, property values are lower than they have been for a number of years.

"It's a great time for them to get [on the property ladder]."


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