13
Nov
Property a 'good' investment
Investing in property is a prudent thing to do and the current
market conditions make this a good time to get on the housing
ladder, one expert claims.
Helen Adams, managing director of FirstRungNow, said: "It probably
is a good time to buy as we view buying property as a long-term
thing. You are investing in your long-term future, rather than your
landlord's pension."
However, she pointed out that for buyers without a deposit, it is
still difficult to raise finance for a purchase.
Ms Adams stressed that it is particularly difficult for first-time
buyers to enter the market given the current climate, where lenders
are still wary of providing home loans without a substantial
deposit.
Research released in November this year by the Council of Mortgage
Lenders revealed that many first-time buyers are taking advantage
of the higher stamp duty threshold.
Its figures showed that 32 per cent of first-time buyer loans were
taken out on properties between the old £125,000 threshold and
the new £175,000 limit in September 2009.
