24 Feb

Wales is the place to be for FTBs

Wales is the place to be for FTBs

First-time buyers (FTB) looking for the best location to move to could do worse than to turn their eye towards Wales.

It has been reported by the Council of Mortgage Lenders that the average home buyer in Wales has seen the most favourable conditions in the country, as lending has increased, which is good news for those looking to buy property for sale in Cardiff.

The CML report said that overall spending on mortgages loaned to first-time buyers had increased by four per cent in Wales in 2011. This was a contrast to the rest of the country, where it dropped by four per cent on average.

Peter Hughes, chair of CML Cymru, said of first-time-buyers: "They have been at the sharp end of a dysfunctional mortgage market but in contrast to the UK, Wales has seen a continuing uplift in activity at this end of the market – albeit from a relatively low base."

A separate report showed that Scottish buyers face the best repayment rates in the whole of the UK.ADNFCR-1222-ID-801302510-ADNFCR

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