First time buyer registrations increase!

- Wed 10 Aug 2022

For most people the thought of more people looking at buying a home for the first time at the current time, with the cost of living crisis biting and world events continuing to cause major concern, would seem unthinkable, although that appears to be the case.

When looking at the property market overall, the demand appears to be slowing from the manic levels experienced over the last 2 years or so following the pandemic, albeit a rise from the people looking to take their first step on the housing ladder, so we started to take a closer look as to why this may be the case.

One of the biggest changes over the last 2 years is the flexibility many job roles can offer with regard to home working, which appears to be a major factor in the upturn of new home seekers. With the capital city costing more than ever to rent a room or apartment, combined with the ability to work remotely there seems to be a wave of people looking now to buy for the first time further away from their place of work. Whether it be people returning home, or seeking a new place to set up home, there is certainly a rise of new buyers coming into the market place.

David Lewis, Head of Mortgages at Bradleys Financial management commented “We are arranging more mortgages for people than ever who are looking to work remotely for the majority of their working week, then catching the train or plane to London when they need to be in the office. It is a good opportunity for people to climb onto the property ladder in areas where they may not have been able to afford previously. Many of these people have been paying far higher rents and are often surprised how much they can afford on a mortgage.”

Bradleys Estate Agents offer a range of services including access to their team of mortgage specialists, so if you are keen to find out how much you could borrow, or are considering re-mortgaging, contact David Lewis and his team on 01395 222391 or visit our website for further details.