Inaugural property investors are to benefit from the ongoing economic slowdown, a sector expert has claimed.

Paul Holmes, operations director with Firstrung, has commented that developers are set to court first-time buyers as "the only people they can possibly look for".

As such, people who previously found their dreams of home ownership stifled could get new hope, said Mr Holmes.

First-time buyers who feel they have a bargain should invest, while those unsure can wait longer to watch as "this drama unfolds", he added.

People looking for their first home are the "flavour of the day", the expert stated.

He was speaking after research from Moneyfacts.co.uk found that the number of mortgage deals on the market has fallen by 60 per cent in the past year.

Meanwhile, people finding it hard to get a remortgage may increasingly look to secured loans, Defaqto predicted this week.
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