FTBs 'benefiting' from more mortgages

Posted: 16 Jun 2009 09:21:36 GMT

More mortgages are suitable for first-time buyers (FTBs) than there have been for a while, according to Helen Adams, managing director of property portal FirstRungNow.com.

The industry expert suggested that an increasing amount of lenders will soon follow Halifax's lead and provide people buying their first home with more choice of higher loan-to-value mortgages.

Ms Adams also commended other schemes which have been launched in recent years to try and help people to get on the property ladder.

"I think the government, which continues to put money into HomeBuy schemes is making a reasonable effort to help people find solutions which require smaller mortgages," she explained.

FTBs were this week advised to bargain hard for property because there is still a chance prices will drop in the coming months.

The campaign for cheaper house prices, PricedOut.org.uk, indicated that recent surveys showing growth in house prices could soon be reversed.


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