According to the CML (Council of Mortgage Lenders), more first-time buyers got a foot on the property ladder last year than at any time since the financial crisis began.
If you are looking to purchase your first ever property things may be looking up. Last year a total of 216,200 first-time buyers became homeowners, making 2012 the first year that the annual total exceeded 200,000 since 2007. This also represents a year-on-year rise of 12% on 2011, when 193,000 loans were advanced.
Paul Smee, director general of the CML, said: “First-time buyers, in particular, have benefitted from the effects of better funding conditions and the Funding for Lending Scheme (FLS), with the number of new people moving into home-ownership in 2012 reaching the highest level for five years.
With mortgage availability beginning to increase and various government buying schemes still available, now could be the year that first time buyers come back to the market.
If you are a ‘would-be’ first time buyer, below is a taste of homes that could be suitable for your budget.
|With a shared ownership guide price of £35,625 – £64,000 this property is ideal for first timers struggling to find a deposit. This selection of 2 bed apartments is located in the Victory Pier quayside redevelopment. Benefiting from a 12 year NHBC warranty the property boasts modern gloss finished kitchen units, roca white bathroom suites, cycle parking and much more. Thanks to the shared ownership scheme buyers could part buy the property and pay a rent on the remainder.|
|This modern two bedroom property in Middlesbrough has no chain, a garden and parking. Benefiting from storage heaters and double glazing it includes: entrance hallway, lounge, kitchen, 2 bedrooms, bathroom / WC, communal gardens and allocated parking. This property is offered at a price of £99,950 and could be ideal as a first time buyer purchase.|
|This stunning newly built 1 bed apartment can be bought with just a 5% deposit. This property forms part of a new riverside development in Bedford. It is close to the cafes, restaurants boutiques and music venues located in Bedford town center but is also just a 35 min train ride away from Central London. The apartment is offered for £94,000.