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Lending conditions 'to improve for first-time buyers'
Posted by Helen Jones
People looking to get their feet on the first rung of the residential property ladder in 2011 have been offered some positive news with regard to their prospects.
According to Jim Munson, head of marketing at Metropolitan Home Ownership (MHO), lending conditions in the UK's mortgage market are set to become easier as the year goes on with financiers offering greater flexibility and fluidity in the market.
Mr Munson was speaking following the publication of research by ComRes on behalf of Genworth Financial last week (March 10th 2011), which showed that 83 per cent of all MPs believe that first-time buyers in their constituency need more help to access the housing sector.
The MHO official added that if interest rates stay at their current "relatively low" level, "confidence and conditions" will both improve "in the later part of the year" as "potential first-time buyers are clearly looking for affordable alternatives".
14/03/2011 16:06
News category: Property