Confidence of first-time buyers increases, suggests survey

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Confidence of first-time buyers increases, suggests survey

Research measuring advice appeals made by people looking to get onto the property ladder shows total requests reached an annual high last month, according to one advice website.

The numbers of people making searches for advice on first-time buying options reached 41 per cent in August, a 16-month high, unbiased.co.uk's Advice Drivers report claims.

Suggesting the results are not just a blip but could be indicative of longer term trends as lenders hike up the pressure in the fixed-term and tracker mortgage market, July's figures showed 38 per cent of requests made were for home loans.

"This new market confidence has been fuelled by the continuing fall in house prices and mortgage rates since 2008," explained chief executive of the site Karen Barrett.

She added that the company had also seen an "increasing number of lenders return to the mortgage market", with some offering a ten per cent or lower deposit rate.

Highlighting the market trend, yesterday (August 6th) saw Santander reduce rates across a broad spectrum of its mortgage products by up to one per cent and launch a range of new two, three, four and five-year fixed mortgage products.

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