January 5, 2009

UK entry level open ups

Could the UK property market be about to open up for the first time buyer? Property prices have been falling over the past year and now they have reached a point where it could be the time where those first time buyers who have been holding back, finally decide to make the jump.

On paper, the market is very attractive to a first time buyer when compared to the prices at the same time a year ago. In some cases, these first timers could be looking at saving anything up to twenty per cent off the prices.

This makes a lot of difference when it comes to mortgages and payments, for the first time in a long while where a first timer buyer is in a position to afford properties in many more areas than before.

The problem for first time buyers is that although the market may be favourable, getting the mortgage is another matter.

Source [Off Plan Property Exchange]