Doors shut for first-time buyers?

  • Story by: Catherine Couch
  • Magazine: MortgageAdviser
  • Published Wednesday , June 04, 2008

A friend posed an interesting question to me the other day - how long should she wait for the market to right itself before purchasing a house?

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Having been within a hair’s breadth of taking on her first mortgage in March, she pulled out due to the increasing price of mortgages, particularly for borrowers with less than 25 per cent deposit.

She is now armed with a slightly larger deposit - albeit still less than the magical 25 per cent mark - and is keen to put her money into bricks and mortar rather than her landlord’s pockets.

To read the latest Home on the Range blog click here.

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