8 Dec

Mortgage products for first-time buyers 'on the up'

Mortgage products for first-time buyers 'on the up'

The number of mortgage products available to first-time buyers is at its highest level since May, according to moneysupermarket.com.

More than 1,300 mortgage offers are now on the market for first-time buyers, compared with just over 1,200 in November this year.

The online price comparison site has described the increase as a positive occurence.

Hannah-Mercedes Skenfield, mortgages channel manager at the company, commented: "It is encouraging to see an increase in lenders providing suitable options for first-time buyers, as the number of products in this arena have been low for some time."

She added that, if these lending patterns continue, it could be beneficial to the housing market.

Ms Skenfield also took the opportunity to call on the government to extend the stamp duty holiday past the end of December.

The stamp duty threshold will revert back to its original £125,000 level - down from £175,000 where it currently stands - on December 31st this year.

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