First time buyers are in need of pay rises above inflation to get that first foot onto the property ladder, so new research shows.
A new would be first time buyer study reveals that more than 50% are depending on a pay increase of above inflation, which was 2.7% in January.
The second most popular way of getting that first foot onto the property ladder is buying with a partner or receiving financial assistance from parents. The fourth most common option is to get a 100% mortgage .
Developers offer many different packages for first time buyers. It is essential for potential buyers to find out how much they can borrow and what they are able to pay back every month.
When they have established what they are going to have to spend, they can begin to look thoroughly.
There is help for first time buyers, particularly from new home developers to get that first step on to the property ladder.
As interest rates have gone up this year, first time buyers are feeling that affordability squeeze already.
It is crucial that buyers select their properties in areas where house prices are going to go up .
House prices have gone up in numerous areas, yet there are many areas where the house prices are continuing to rise.
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First Time Buyers Are in Need of Pay Rises Above Inflation Thu, 22 Feb 2007
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