Lamport Bassitt Solicitors - Legal News - First-time buyers 'believe mortgage finance is too expensive'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS First-time buyers 'believe mortgage finance is too expensive' Before searching for residential conveyancing services, news that many first-time buyers believe mortgage finance is prohibitively expensive may play on the minds of consumers. According to statistics from Halifax, the amount of people getting onto the housing ladder was 94,600 in the first half of 2010, which is half as much as 2007's figure. One of the barriers is reckoned to be the high sum required for a deposit, given stringent lending criteria currently being implemented. That said, Halifax indicated that the market conditions for first-timers have improved compared with last year. Stephen Noakes, commercial director for mortgages at the organisation, said: "We believe it's important that first-time buyers understand that whilst there are still challenges in raising deposits, other market conditions are more positive." Recently, Knight Frank reported that the amount of second homes in the UK increased by 2.6 per cent in 2009, with growth of two per cent projected for this year. Posted by Isobel Whitely Related Articles: 30/3/2012 - EPC changes to affect buy-to-let landlords 27/3/2012 - Rent increases drive strong buy-to-let yields 27/3/2012 - Property industry welcomes 'sensible' planning reforms 2/3/2012 - Arla advises landlords to 'invest wisely' 1/3/2012 - Basel III could hit commercial property lending More Property Law News