First time buyers increased their share of market

First time buyers increased their share of market.

According to The Fair Investment Company, first time buyers have increased their share of the mortgage market in the past few months, despite the overall number of mortgage enquiry figures falling over the same period. The proportion of first time buyer enquiries regarding mortgages stood at 56% in January, February and March, but this rose to 74% during August, September and October. The study also found that more new buyers are also showing an interest in 100% mortgages, up from 77% in the first quarter to 92% in the third. “Britain’s love affair with the property market is far from over,” said Fair Investment director James Caldwell. “Our figures suggest that, while overall there have been fewer mortgage enquires since the first quarter of 2007, first time buyers are still keen to seek out a deal and are fully prepared to opt for 100% mortgages if it means getting their own home,” Mr Caldwell added.