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Nurture signs of life in the FTB market

Our BDMs are reminding introducers that while much of the emphasis in the market this year has been on buy-to-let and the return of a remortgage market, first-time buyers should not be ignored.


It is time for introducers to tune back into this important market segment. With the Council of Mortgage Lenders reporting a 10-month high in July for first-time buyer activity, there is evidence a species long thought to be almost extinct is showing signs of life.

But as the recovery could hardly be called well established, we need to do everything we can to nurture any upsurge in first-time buyer activity.

First-timers are the engine room of a fully functioning market and without them it is harder for second-time buyers to move up to the next level.

While a large fall in property prices has not happened, without greater first-time buyer activity we will still have a dysfunctional market from which this vital catalyst has been absent for too long.

Having witnessed a flight to renting, are we now at the tipping point that will see a sustained return of first-time buyers?

Property prices remain high as a multiple of income, but with core criteria being extended some lenders are offering 90% LTV loans to attract buyers.

With these consumer-friendly deals available, brokers should be turning their attention to this sector whose time might have come again.


HML confirms FSA investigation is over but is tight-lipped on outcome

HML says the Financial Services Authority investigation into the firm, which was revealed in its 2010 accounts, has ended. In its 2010 accounts the mortgage servicer, which is owned by Skipton Building Society, says it was subject to a probe and there was a risk it would be fined or have to pay redress. The […]

Nick Mothershaw

In my opinion: Build up your defences against fraudsters

Fraud in the UK is a billion-pound illegal business with fraudsters targeting perceived weaknesses in systems. Be it individuals misrepresenting their own circumstances to obtain services that would otherwise be out of reach or the threat of identity fraudsters masquerading as someone else, fraud continues to be a major cause for concern among mortgage providers.


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