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Posted by Francesca Witney

First-time buyers could be set to enjoy improved conditions in the UK housing market in the near future, an expert has said.

According to Andy Pratt, chief operating officer at Alexander Hall, while conditions still remain tough for such individuals, there have definitely been "positive signs" over recent times that the situation is looking brighter.

Mr Pratt explained it is encouraging that some banks and building societies are now offering mortgages with higher loan-to-value rates, but the fact such attractive figures are still not widely available to first-time buyers is potentially problematic.

Last week (December 9th), research by e.surv revealed that loans for home purchases reached their highest level for almost two years in November.

And Mr Pratt went on to urge first-time buyers to stay patient and disciplined in terms of saving up a sufficient deposit to afford a mortgage and wait for the right deal for their individual needs to crop up. 

13/12/2011 13:40