First time buyers still able to invest

Posted 2008-02-14

First time buyers will still be able to make that first step on to the property ladder, despite the recent credit crunch. It is true that fewer lenders are offering 100% mortgages, but this is a result of lender prudence rather than the door being closed on first time buyers.
Research from Moneyfacts shows that 11 lenders have stopped offering maximum mortgages since December 2007, but lenders are still supporting first-time buyers. Darren Cook of Moneyfacts said:
“It’s not all doom and gloom for first-time buyers, it’s just that in the current mortgage market, they are not sure what is going to happen so they are being a bit prudent.”

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