Winter could be the ideal time to invest in UK property
Winter could be an ideal time for UK buyers to purchase their first property, according to one mortgage specialist.
The end of the year is usually a slow time for buyers; however mortgage advisor mortgageforce recommends that it could be the time to bag a bargain.
Katie Tucker, technical manager at mortgageforce, said: "Traditionally, they fall in value now for November, December and January and then it doesn't pick up again until spring, so it might be a good time for first-time buyers."
She added that it was "promising that the appetite for borrowing has increased".
Figures released from the British Bankers Association reveal that in October there was a 98% increase in year-on-year mortgage approvals allowing first-time buyers the chance to step on to the property ladder.
Those wanting to invest in the market while prices are good but are short of money could do well to purchase off plan property. This would allow them to buy the property at the current market value and allow it to appreciate while it is built and house prices pick up.
Visit our off-plan property UK page.
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