16 May

Are first-time buyers seeking houses for sale in Staffordshire?

Are first-time buyers seeking houses for sale in Staffordshire?

First-time buyers are increasingly looking for houses for sale in Staffordshire and other areas of the country, the latest housing figures suggest, as househunters move away from renting and take advantage of more widely-available credit.

The Guardian reports that figures from house valuation firm e.surv show 27 per cent of all mortgage approvals in April were for properties costing less than £125,000, seven per cent higher than the same month in 2010.

Richard Sexton, business development director of e.surv, said lenders are looking to bring in business after the sluggish winter by going after first-time buyers, who may be seeking houses for sale in Staffordshire.

"First-time buyers are the lifeblood of the market - their purchases unlock the rest of the property chain - so these signs of life at the bottom of the market will be welcomed by the higher echelons of the property ladder," he told the newspaper.

Meanwhile, the Independent reports that first-time buyers are being given more choice, with some lenders such as Clydesdale Bank and Skipton Building Society offering 95 per cent loan-to-value mortgages.ADNFCR-1222-ID-800535083-ADNFCR

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