Home loan applicants back in the game
Current UK housing market conditions are said to be at their most inviting for FTB’s looking to acquire a home loan.
A spokesperson for one of the UK’s leading housing market analytics firms has stated that steadying conditions with regards to the growth of the market, may finally allow some first time buyers the chance to restart their search.
House prices have rose by an average of 7% each year, for the last 4 years. For many, the escalating costs associated to buying a new home are considered to be unrealistic and impractical, however, news of a slowdown in the overall growth of the market is likely to be welcomed by a portion of the FTB community.
As a collective, there are still very few first time buyers who are both able and willing to commit to the historically high value loans which are required to get onto the property ladder, with many holding off in hope of a dramatic market change. Unfortunately however, many analysts are advising that although the property market would appear to be petering for the time being, it would be unwise to assume that prices would eventually drop by the percentages that are currently being wishing for.
