First-time buyer mortgage activity to increase in 2010, says expert

Date:Thursday 18th March 2010

Karen Barrett, chief executive of, said lenders had begun to help new buyers with the introduction of competitive mortgage rates for high loan-to-value products, showing a "renewed appetite" for bottom-level custom.

She added: "First-time buyers […] feel they are in a position to dip their toe in the mortgage pool and take the important first steps by seeing a whole-of-market mortgage adviser[s]."

The latest Advice Drivers report showed 42 per cent of mortgage enquiries were from first-time buyers last month.

However, confidence within the housing market will remain fragile until the general election has passed, according to Building Societies Association (BSA).

A BSA survey revealed fewer than 50 per cent of people think now is a good time to buy property compared with December last year in which 58 per cent were in favour.