People who have recently invested in their first home are unlikely to face the threat of losing it, one industry expert has said.

Firstrung's operations director, Paul Holmes, commented that first-time buyers have little cause for concern following reports of a 16 per cent rise in repossession actions from the Ministry of Justice.

The average first-time buyer mortgage has been £115,000 over the past two years, with the typical first home purchased by a couple.

He explained: "The first-time buyers who have managed to buy over the last couple of years have done it very conservatively."

People who have managed to sum up the financial support to invest in a first home can usually afford it and are not likely to face difficulty meeting mortgage payments, Mr Holmes claimed.

Meanwhile, price comparison website Moneyfacts advised two years ago that secured loans may offer homeowners longer borrowing terms and larger sums than their unsecured counterparts.
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