`Glimmer of hope` for first-time buyers
4 February 2010
Figures from financial information service Moneyfacts revealed that the availability of mortgages is increasing, which - as the BBC reports - is `providing a glimmer of hope for first-time buyers`.
In the UK, the number of mortgages on the market has increased in the last month and lenders have continued to `relax their criteria`. The number of mortgages on offer is 20% higher than at the start of the year.
Some of the mortgages on offer require `relatively small deposits` of just 10% - which could offer first-time buyers without substantial savings a better chance of securing a mortgage.
A mortgage expert for Think Money commented: "The increased availability of mortgages may suggest that lenders are becoming more confident with their money.
"We would advise anyone looking for a mortgage - whether they`re first-time buyers or homeowners looking for a new mortgage - to speak with a mortgage adviser before making any firm decisions. An experienced mortgage adviser should be able to help them find a mortgage deal that suits their needs."
Fill in our form to find your mortgage solution
Tags: mortgage, first time
Mortgage news
Cost of mortgage debt falls to six-year low 12 March 2010
Homeowners urged to consider mortgage options 8 March 2010
Over 3 million don`t know interest rate on their mortgage 4 March 2010
Base rate at 0.5% for 12th month 4 March 2010
Mortgage lending fell in January 1 March 2010