‘First Time Buyers’ News
Manchester’s Home Market is Affordable
Posted 2008-02-13
Manchester has a lot to offer its residents: affordable housing in a city centre with everything one would expect from city living. Exactly how affordable? Real estate provider Savills states that first-time home buyers can find plenty of options for around £100,000, while living in the city centre. Savills residential investment consultant, Tom Rogers, explains that in Manchester, “There is a lot on offer. The market is going through a little blip at the moment but as far as property prices go, I think they are quite fairly priced in Manchester. A one-bedroom apartment is still quite affordable and that’s city centre living .You wouldn’t get that in London.” Further extolling Manchester’s pluses, Mr. Rogers continues that Manchester has grown “significantly” in the past few years and is “still growing.” This observation is corroborated by Manchester’s website, manchesterfacts.com, which states that Manchester will commit £4.9 billion to construction projects over the next ten years. ...
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Loans are Available for First-time Homebuyers
Posted 2008-02-11
First-time homebuyers should not be dismayed by the plethora of news reports and discussions expounding on the crisis in the mortgage industry. Although it is true that there are fewer loans available for 100 per cent of property value and that eleven mortgage companies have reduced their maximum loan amounts since December, 2007, Moneyfacts.co.uk wants first-time buyers to understand loans are still possibilities for them. Darren Cook, head of mortgages at Moneyfacts.co.uk, explains that though mortgage companies are tightening their lending practices, first time buyers can still receive appropriate loans. He explains, “It’s not all doom and gloom for first-time buyers, it’s just that in the current mortgage market, [mortgage lenders] are not sure what is going to happen so they are being a bit prudent.” ...
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Home Purchases by Couples Increased in 2007
Posted 2008-02-10
Does it seem like more of your friends are moving in together? If you think so, you may be correct. According to research from company John Charcol, in 2007 the amount of first-time home purchases made by couples increased to...
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Home Buyers: Don’t Be Dismayed
Posted 2008-02-8
Those who want to purchase a home in the near future for the first time may be dismayed from the copious news reports and discussions about the recent tightening policies of mortgage providers. Since December 2007, eleven mortgage providers have reduced their maximum loan amounts, according to Moneyfacts.co.uk research. However, Moneyfacts.co.uk says first time buyers should continue in their plans to purchase a home, although they may need larger deposits or guarantees from a third party than they would have needed before. According to Darren Cook, Moneyfacts.co.uk head of mortgages, this requirement can protect first time buyers from over committing in a home purchase. Furthermore, he argues that first time buyers may even benefit from the current economic climate. He says, “I think lenders are still supporting first-time buyers, they’re possibly just being a little bit more prudent in how they advance their funds.” ...