FirstRungNow: Mortgage lenders failing to entice FTBs
03-Feb-2010
An increase in prices coupled with the continuing reluctance of mortgage lenders to offer attractive deals to
first-time buyers (FTBs) will see the struggle to get on the first rung of the property ladder go on, according to FirstRungNow
Helen Adams, the firm's managing director believes that prices will continue to rise - albeit at a slower rate than has been predicted.
The Centre for Economic and Business Research said this week that it expects the cost of buying a home to rise by six per cent this year, with a 20 per cent growth forecasted by 2014.
"It is disappointing because prices are going up but mortgage lenders are yet to come up with much of an offering for
FTBs," Ms Adams states.
She goes on to reveal that the result of this is "difficulty" for
FTBs hoping to enter the bottom of the ladder.
The CEBR's prediction is based on an increase in mortgage approvals materialising, reaching 72,000 a month over the course of 2010.
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first time buyer could need as well as first time buyer news at FirstRungNow.com.
Shared mortgages could be popular as lending cutbacks continue Rising house prices may be making it tough for FTBs Doubling of house prices 'makes life more difficult for FTBs'
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