More First Time Buyers help you to Sell your House Quick
First time buyers allow many to sell property fast
Over the last couple of months home sales have begun to reach more consistent levels. Estate agents across the UK have on average sold 7 properties per month for both March and February. What is also positive for the housing markets is that the level of first time buyers has increased by 0.5% during March and after a recent shortfall in first time buyers the current level now stands back at it’s previous high from May last year.
The first time buyer market is certainly important for the general housing market. These type of buyers often buy in a price bracket that is the general bread and butter of the UK property market.
Interest only mortgage lending may be tightening
As we have discussed before, the housing bubble was caused by the mortgage lenders, we all remember the word “sub-prime”, and the mortgage lenders are at large still holding the market back. We have always said that until the mortgage lenders open their doors and more freely lend, basically loosen their grip. Then movement in the property market will continue to remain stagnant.
There is a lot of talk at the moment whereby the government are beginning to think interest only mortgages aren’t a good idea. They believe that their is a mortgage time bomb happening where by people never pay down the capital on their mortgage and by the time they are at the age of retirement, their mortgae will expire and they will be unable to renew the mortgage. Currently you will struggle to attain a mortgae by the age of 64. Basically if you havn’t paid down your mortgage by the time you retire you will likely be forced to sell which could cause a crisis.
Pressure to sell my house fast
This isn’yt good for those who need to sell house quickly because the government have recently suggested to the lenders that they should limit the amount of interest-only mortgages. Interest only mortgages have been so important fro the property market it seems like a massive risk if these are evr severely limited. If you are asking to sell my house fast, then consider looking around the site and speaking to one of our advisers to see if we can provide a solution and buy your home.
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