First-time buyers 'should wait until market is stable'

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First-time buyers 'should wait until market is stable'

The business development director of iammoving.com has suggested that first-time buyers looking to use the market downturn to get on the property ladder would be wise to wait until the market has stabilised.

Peter Beckett stated: "If you rush into something now, you could find yourself in a negative equity position, having borrowed in order to be able to afford to secure the property in the first place."

He recommended that first-time buyers fund their property through savings, inheritance or a family loan, if possible.

If not, then looking to purchase a flat or house with another person is an alternative possibility.

According to research conducted by iammoving.com, one-in-three first-time buyers fund their first property purchase through unsecured loans, borrowing and credit cards.
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