Hope for First Time Buyers

First time Buyer are to cash in on the over stretched Buyer to Letters.

There has been a huge increase on repressions of new build flats purchased by Buy to Lets. Most have seen their property price plummet by over 40%

There have been examples where flats built in Gravesend two years ago sold for £200,000 which can now be purchased for around £120,000 as desperate Buy to Letters  try to offload them form their portfolio.
Originally purchased off plan; with some developments consisting of more than 75% Buy to Let owners, the market has been flooded with rental flats, which have been empty which the owners try to find people to rent them. If they are lucky enough to rent them out, the rental income doesn’t cover the mortgages. Leaving the Buyer to lets out of pocket.

There has been a huge increase of new builds being repossessed that are now being sold at Auction
Savvy First Time Buyer ‘s are no able to cash in on the falls and snap up some bargains at Auction
See our list of Auction websites here.

If you’re looking for a first time buyer mortgage apply here.