Those thinking of buying a new home are finding that finance is becoming more readily available, it has been observed.
According to Richard Hair, a past president of the National Association of Estate Agents, first-time buyers in particular are seeing an increase in the flow of credit.
He explained that borrowers do not need as high a deposit to secure a mortgage, as banks are becoming more willing to lend, news that may be of interest to anyone considering buying a new property.
"The loosening of the purse strings is certainly making life that little bit easier for the first-time purchasers that do want to get into the market," said Mr Hair.
Earlier this month, Barratt Homes announced that it was introducing a scheme to help those thinking of buying one of its new homes.
Through its Dream Start initiative, purchasers at the Exchange in Highbridge, Somerset are required to pay just 75 per cent of the price up-front.
See Also: Property News (6705)
Date Published: 13 February 2009
Related News
