Big increase in first time buyers

Award-winning estate agency Fox & Sons part of the Sequence Group, has recorded a 30 per cent increase in the number of first-time buyers applying for mortgages so far this year compared to the same period in 2011.
By The Newsroom
Published 30th May 2012, 15:23 BST

“The fact that more prospective buyers are seeking mortgage advice in order to buy a home is great news for the housing market,” says Gemme Rice, Mortgage Services Consultant for Fox & Sons “Since this time last year, we’ve seen an increasing number of home buyers coming in to discuss their mortgage options and see what properties are available to them.”

Fox & Sons is continuing to see a high number of first-time buyers in the market despite the end of the Stamp Duty exemption holiday for this group in March. It is clear from the figures the appetite to buy a home for the first time remains strong which is good news for home movers, especially those with first-time buyer properties.

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“Although there are still challenges for first time buyers looking to purchase a property, there are also opportunities out there,” says Gemma. “Access to and availability of affordable, first-time buyer mortgages, combined with good mortgage advice, is key to maintaining the current high levels of first-time buyers we are seeing.”

According to its figures, home movers seeking mortgage advice have also increased, jumping 11.7 per cent in April 2012 compared to April 2011.

If you require mortgage advice and would like to speak to Fox & Sons’s Mortgage Services Consultant, please contact the branch on 01293 520521 or email: [email protected]