Monday, September 13, 2010

FTBs are biding their time

Mortgage bills halve, but still no first time buyers

There are all sorts of reasons why they should have been tempted in. So, for example, 94% of first-time property purchases are now exempt from stamp duty. We can't even blame the mortgage market, as the most recent figures have shown lending is rising again, only 3% of first-time buyers say a lack of suitable mortgage products has prevented them buying a home and eight out of ten first-time buyer mortgages are approved. The answer remains a simple one - according to Halifax - houses are still too darn expensive.

Posted by mnorman @ 12:58 PM (813 views)
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