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Increase in Discounted Homes for Sale!

A recent report published by The Resolution Foundation highlights a noticeable drop in homeownership over the past 13 years, from 72% in 2003 to just 58% this year. Rising prices and tighter restrictions on mortgages have left many potential home buyers struggling to make that first property purchase. However, there is glimmer of hope for first time buyer as the recent economic uncertainty following Brexit may have started to have an effect on the property market.


Property website Zoopla.co.uk recently reported that 2 in 5 properties currently for sale in Britain have had at least one price reduction with the average home reduced by the seller by over £18,500! 
Additionally, having no home to sell puts first time buyers in a great position to negotiate a deal when purchasing a property.

Positive News for First Time Buyers

With a house price fall of 1% in July, Halifax have said there are signs that house price growth is slowing down. They indicate that this is probably a combination of economic uncertainty and the normal quiet period typically seen on the property market over the summer. Whatever the cause, it’s positive news for first time buyers planning to make a purchase in the near future.

Mortgages for First-Time Buyer from The Mortgage Hut

For first time buyers with a deposit ready to buy a new home, the recent cut of interest rates down to 0.25% means the potential for great mortgages deals. Why not let The Mortgage Hut find you your perfect mortgage? Our mortgage advisers will search the market for the most suitable deal and products for you circumstances - saving you the time and effort of visiting numerous different banks and building societies. With access to mortgage products from the large banks as well as smaller, more specialist lenders, we can find the option that best suite your needs!

Friendly, Expert Advice from The Mortgage Hut

Our friendly mortgage advisers are here to help all buyers with the information you need when it comes to selecting and applying for mortgage products. We can also provide help and advice for those interested in using one of the Government’s Help to Buy schemes to purchase a property.


Contact the Mortgage Hut to make an appointment or speak to a mortgage adviser on the phone.


Sources:

http://www.bbc.co.uk/news/business-36943134

http://www.zoopla.co.uk/press/releases/property-asking-prices-discounted-to-highest-level-in-over-a-...