West Bridgford Sees Pick Up In First Time Buyer Sales
At a time when the number of available mortgages for those with smaller deposits has reached its highest point since 2008, West Bridgford has seen a pick up in first time buyer activity, as FHP Living have completed on three sales in the last week alone to buyers making their first move onto the ladder.
According to data from Moneyfacts, 845 mortgages are now available to people with deposits of 10pc or less, compared to 764 just six months prior, making homeownership more accessible to an even greater number of people. What’s more, the rates on said mortgages have also reached a record low, with the average two-year fixed-rate mortgage rate falling below 3pc.
It coincides with an announcement from Rightmove that more homes in the first-time buyer bracket with two bedrooms or fewer are coming onto the market, up by 10pc in February, and West Bridgford is following the trend.
Ian Marriott, Associate Director of sales at FHP Living’s West Bridgford office, comments:
“We have seen an uplift in sales and enquiries in the first time buyer sector. Just last week, the three sales to first time buyers were concluded within a matter of days at prices ranging from £80,000 to £170,000, showing that West Bridgford really is a feasible location for first time buyers.
The rates of mortgages at present mean that those first time buyers who previously may not have been able to step on the ladder can start thinking about making the leap, so we encourage those thinking of buying to let us know of their requirements even if they may not have found something to their liking on the website, as we can let them be the first to know when something suited does become available.”
For more information, please contact Ian Marriott on firstname.lastname@example.org or 0115 977 8939