BGN Entrepreneur

Housing associations in the UK indicates that the demand to buy houses outstripped the supply in the market place. According to the regional housing associations, the number of people that gaining official help to step on the first rung of the housing ladder, is increasing.
First-time buyers who underpinning to the housing market has been frozen out in spite of record low interest rates. It is mainly because of two factors. First factor is a new-found caution on that the lenders will be the ones that buy in order to get a 25% down payment. Secondly, though property prices are from their peaks, they have not fallen far enough to be affordable to many potential buyers.
The Council of Mortgage Lenders, which represents most of the industry, not formally track arrears and default rates for first time buyers. However, the lenders have long known that this group had higher arrears and defaults, even if not paid earlier in the sentences they have been punished. But actual lending practice is an obstacle. The CML estimates that the mortgages to first time buyers is currently at half of its long-term average.

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