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RISE IN FIRST TIME BUYER MORTGAGE APPLICATIONS

RISE IN FIRST TIME BUYER MORTGAGE APPLICATIONS (Buying)

by administrator @, Wednesday, October 12, 2011, 16:48

The number of mortgage applications from first time buyers rose to its highest level for almost six months, according to new figures from haart Financial Services.

Statistics from the financial division of haart, show 38.4% of all applicants were first time buyers in September. What's more, first time buyers appear to be hedging their bets on interest rates, opting primarily for two or sometimes three-year fixed rate mortgages. A smaller number have chosen two or three year tracker mortgages.

David Miles, Managing Director of haart said: "It is extremely pleasing to see an increase in the number of first time buyers looking for mortgages, particularly given the well-documented problems this sector of the market has experienced of late accessing finance.

"First time buyers are a key component of the mortgage market and the increase is a clear indication of the increasing willingness among lenders to support their efforts to get onto the property ladder."

www.haart.co.uk


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