Debt Advice Help and Support

Debt advice for first time buyers (10 Mar 2010)

First-time buyers could need more debt advice in the future.

Figures from Rightmove.co.uk show fewer people are planning to get on the property ladder this year.

According to the website, in a healthy market around 40 percent of housing transactions are made by people buying their first home.

That figure now stands at 25.8 percent.

Overall, only one in four people are planning to buy a home in the coming year.

Experts believe it is because it is much more difficult to get a mortgage loan without a large deposit at the moment.

Rightmove questioned almost 33 thousand (32,771) people in an online survey.

Commercial director Miles Shipside, said: "First-time buyers play a crucial role in keeping the market moving by helping to complete chains, and their continued absence delays any prospect of a meaningful market recovery."