House sales are still falling

RICS the Royal Institution of Chartered Surveyors said the housing market has reached a low not seen for 30 years.  First time buyers are struggling to take advantage of falling house prices.

RICs said that the proportion of surveyors reporting falls had improved in the South East, East Anglia, Wales, the South West, Yorkshire, the East Midlands and Northern Ireland.

It was stable in the North, North West and West Midlands but had got worse in Scotland.
Due to the lack of lending property looks to even further in 2009.

You need to have a large deposit to get the lower rates. The best deals are available with a 40% deposit which will secure a rate of 3.99%, expect to pay 6.39% if you can only save a 5% deposit. If you take a £100,000 mortgage over a 25 year term the difference in monthly payments is £144.

First time buyers seem to be divided, some are holding back waiting to see how much further house will fall. Whilst agents are reporting new buyer enquieres increasing for the second month.

If you want to know more about first time buyer schemes, then contact Click n go Mortgages here.