Mortgages for FTBs `on the rise`

17 June 2009

The number of mortgages available to first-time buyers (FTBs) is increasing.

This is according to Helen Adams, managing director of FirstRungNow.com, who claimed that loans aimed at such people are returning to the market.

She said that through initiatives such as the HomeBuy scheme, the government is making a "reasonable effort" to help people find solutions that require smaller deposits.

Meanwhile, other lenders are increasingly showing interest in wanting to lend to FTBs, she claimed.

Ms Adams added: "There`s still further to go - obviously we don`t want to see over-borrowing - [but] this is the beginning of people wanting to lend to FTBs, where they haven`t done for a while.

"I think the loans are certainly coming back to the market."

Recently, Sue Anderson, head of member and external relations at the Council of Mortgage Lenders, predicted that there will be further increases in the number of mortgage approvals in the UK.

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