Repossession 'unlikely' to affect first-time buyers

Money News

www.moneynews.co.uk > Housing market > Repossession 'unlikely' to affect first-time buyers

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Repossession 'unlikely' to affect first-time buyers

First-time buyers are the least likely buyer group to have their home repossessed, according to the operations director at Firstrung.

Paul Holmes suggested that families who have moved up the property ladder have the biggest chance of facing affordability difficulties, while first-time buyers can generally afford their home.

"Over the last two years the average first-time buyer mortgage has been £115,000 [and] the average first-time buyer buys as a two party couple. A £115,000 mortgage shared between two recent first-time buyers both in work is very manageable," he said.

According to the latest data from the Ministry of Justice, the number of mortgage possession claims rose by 16 per cent in the first quarter of this year.

At 38,688, the number of claims was also seven per cent higher than in the final quarter of 2007.
ADNFCR-323-ID-18590042-ADNFCR

Related News : Housing market

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet