First time buyers creep back

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First time buyers (FTBs) are slowly starting to return to the market as affordability improves and lenders reduce mortgage rates, according to Spicerhaart Financial Services.

However, the Government must act now and end the speculation on stamp duty or risk scaring these buyers away, the group warns. Its most recent survey shows that following a drop in FTBs, numbers are now beginning to rise with a 1% increase recorded last month. FTBs made up over a third of all purchasers in July. Steve Cox, operations director of Spicerhaart Financial Services, comments: “With property prices falling by 15% in many areas already this year, there are growing opportunities for first time buyers to get onto the property ladder. This group is vital for the overall economic r...

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