Jump in lending to First Time Buyers reported
According to recent figures, lending to First Time Buyers rose by over 17% in February 2013 compared to February 2012.
First Time Buyers are often described as the ‘life blood’ of the property market. Without people deciding to take the plunge on their first house, existing property owners can’t move ‘up’ the property ladder. To see lending levels starting to rise again in the First Time Buyer sector is particularly encouraging as there has been a widespread perception that there simply isn’t any funding available for people wanting to get a foot on the property ladder. From our point of view, any statistics such as this are very positive in hopefully helping to dispel this type of perception.