First time buyer increase

ESTATE agents William H Brown, say they have recorded a 30 per cent increase in the number of first-time buyers applying for mortgages so far this year compared to the same period in 2016.

With heightened activity in this market, would-be first-time buyers are given hope of getting onto the housing ladder and William H Brown, part of the Sequence network, is encouraging customers to see what best options may be available to them.

“The fact that more prospective buyers are seeking mortgage advice in order to buy their first home is good news for the housing market,” says Greg Woodhams, divisional mortgage services director for William H Brown.

“Many first time buyers dismiss the idea of seeking advice on buying their first home, mainly because they believe it is totally out of reach without a large deposit.

But, with many competitive mortgage products available that require as little as a five per cent deposit and continued low interest rates, getting on the property ladder could in fact become a reality.”

“Although there are still challenges for first time buyers looking to purchase a property, there are also opportunities and many incentives to help those struggling to purchase their first property such as the Government backed ‘Help to Buy’ scheme or Shared Ownership,” continues Greg.

“Access to and availability of affordable, first-time buyer mortgages, combined with good mortgage advice, is key to maintaining the current high levels of first-time buyers we are seeing.”