Jul
21
21/07/2010
First-time property buyers are finding it more difficult to get on the property ladder, due to the hardship of raising the funds needed for the huge deposits required. While interest payments are at the lowest they have been since March of 2004, accounting for 13.2% of prospective home buyers’ incomes, the large deposits are proving to be a stumbling block. In May of this year, first time home buyers typically borrowed 75% of the property’s value, at 3.14 times their income, on average. Looking at the average price of a home in May from the Land Registry, this would put the 25% deposit at £41,328.
This will, of course, have a knock on effect on the mortgage market, making it more difficult to sell house fast due to a lack of potential buyers. If you need to sell home fast for cash, a sell house quick specialist can turn around a quick house sale in days. Sell home fast specialists buy for cash and charge no estate agency or valuation fees. Sell house quick specialists respond extremely quickly, which is ideal if you have a broken house chain or need to sell quickly to relocate.
For a sell house fast valuation, call Property Rescue on 0800 1313 999 or email them sales@propertyrescue.co.uk. You will obtain a quick house sale response in hours.