3 Jun

Good time for FTBs, says BSA representative

Good time for FTBs, says BSA representative

The head of mortgage policy at the Building Society Association (BSA) has claimed that now could be an ideal time for a number of first-time buyers (FTBs) to take their first step on the property ladder.

Commenting at the recent Building Societies Annual Conference, which was attended by financial directors and executives, as well as representatives from the mortgage and insurance worlds, the BSA's Paul Broadhead said some FTBs are in a "great" position.

He was referring, in particular, to those individuals who are able to benefit from financial support from their parents, or people who have saved up for a deposit.

"The mortgage rates are historically low [and] property values are lower than they have been for a number of years," explained Mr Broadhead.

"It's a great time for [FTBs] to get [on the property ladder]," he added.

These views come after the National Association of Estate Agents revealed that more confidence has been shown in the housing market over recent months, compared to the end of last year.
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