First Time Buyer Down
Published / Last Updated on 13/09/2010
by Ashley Clark, Director
The Council of Mortgage Lenders (CML) has confirmed that the driving force behind the whole property market i.e. the numbers of First Time Buyers are down.
CML suggested that first time buyers are putting larger deposits down, on average 24% but the needs nowadays for a larger deposit is squeezing the numbers down, which in turn is suppressing the whole property market.
The number of mortgages advanced was up in July 7% to 56,000 in July figures are still down overall.
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