Nicholas Wallwork
Editor-in-Chief
Staff member
Premium Member
First-time buyers are literally the lifeblood of the global property market and historically real estate mortgages for first-time buyers have been extremely competitive. Unfortunately, the recent worldwide economic downturn severely weakened the strength of many banks around the globe and first-time buyers are not as well catered for with regard to mortgages.
Mortgages for first-time buyers today may well require a larger deposit, may well incur a higher than average mortgage rate and there might also be various conditions attached. There are signs that some of the major banks in Europe are starting to increase their lending to first-time buyers but it is not easy. The larger deposit you have for your first property the more chance of obtaining a mortgage although you do need to take professional advice to see which is best for you.
How did you find your first-time mortgage? What advice would you give to first-time buyers today?
Mortgages for first-time buyers today may well require a larger deposit, may well incur a higher than average mortgage rate and there might also be various conditions attached. There are signs that some of the major banks in Europe are starting to increase their lending to first-time buyers but it is not easy. The larger deposit you have for your first property the more chance of obtaining a mortgage although you do need to take professional advice to see which is best for you.
How did you find your first-time mortgage? What advice would you give to first-time buyers today?
