11 May

FTBs advised on 'the best time' to buy

FTBs advised on 'the best time' to buy

The best time for first-time buyers (FTBs) to join the property market is once lenders start offering mortgage deals with "sensible levels of deposit", according to Firstrung chief executive officer Paul Holmes.

Mr Holmes believes that "timing is everything" when it comes to buying a first home and it is likely lenders have "the best marketing intelligence bar none" in relation to the property sector.

His advice follows a recent survey from Halifax, which indicated that UK houses are at the most affordable level since January 2003.

With prices generally coming down each month for the last year and a half, now could be the ideal time to invest in bricks and mortar.

Halifax said that Scotland and Yorkshire-Humberside were the two most affordable regions of the UK for FTBs.

Meanwhile, the proportion of local authorities in the UK where property prices currently sit at an affordable level for first timers has apparently more than trebled since 2007.

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