17 May

First-time buyer boost for houses for sale in Southend-on-Sea?

First-time buyer boost for houses for sale in Southend-on-Sea?

People hoping to get onto the housing ladder via property for sale in Southend-on-Sea may benefit from improved lending criteria.

Properties under £125,000 – typical first-time buyer homes – accounted for 27 per cent of all mortgage approvals in April, according to research by e.surv.

In addition, 79 per cent of home loans granted were for properties under £250,000, also within the first-time buyer market.

Buyers hoping to invest in their first home may find their ideal property in Southend-on-Sea, which boasts seven miles of seafront, as well as the longest pleasure pier in the world.

Houses for sale in Southend-on-Sea are especially pleasant to live in during the summer months, when the seafront comes to life.

e.surv reports that lenders are beginning to loosen their criteria for high loan-to-value deals, with purchase volumes in the 85 per cent to 90 percent bracket increasing.

Richard Sexton, business development director at the chartered surveyors, claims improved lending to first-time buyers will benefit the entire housing market.

He explained: "First time buyers are the lifeblood of the market ... so these signs of life at the bottom of the market will be welcomed by the higher echelons of the property ladder."ADNFCR-1222-ID-800547022-ADNFCR

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