John Charcol Index: First-time buyers very much still exist

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John Charcol Index: First-time buyers very much still exist

Despite worries about the state of the property market since the onset of recession, first-time buyers are still a prominent feature on the landscape of the housing sector, new figures have shown.

The latest index from the independent mortgage adviser John Charcol has found that in the first four months of 2009, there was a sharp rise in the number of purchases made by first-time buyers.

Furthermore, a large number of these buyers managed to find deposits of at least 25 per cent to fund their new mortgages, points out Ray Boulger of the organisation.

He added that though banks are "bemoaning" the lack of saving at present " their mortgage rates give them the best gross margins they have experienced for many a long year".

First-time buyers may like to consider the new Lloyds TSB first-time buyer mortgage, which Moneysupermarket.com recently described as a valuable factor in helping to kick-start the stagnant UK property market.

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