22 May

Don't jump in head first, FTBs advised

Don't jump in head first, FTBs advised

First-time buyers (FTBs) should not "jump in head first" when it comes to purchasing property, according to financial advice company Fair Investment.

It is vital that home buyers do their research before choosing a mortgage and getting on the housing ladder, the firm stated.

Consumers were also warned to seek professional guidance before moving onto the first rung.

Fair Investment's advice comes in a month that has seen Abbey, The Co-operative Bank and, most recently, Lloyds TSB launch new mortgage products for FTBs.

Chartered financial planner at the company Sharon Bratley said: "It is about time that the big name high street lenders started offering competitive FTB mortgage deals."

Earlier this month, Halifax called on first timers to be cautious and to wait until prices drop further this year before making a purchase.

However, it also claimed that homes are at the most affordable level for FTBs since the start of 2003.

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