Liza-Jane Kelly, Sales Director of Marsh & Parsons, commenting on the latest figures from the CML
Mon 13 Feb 2012
"The rush to beat the end of the stamp duty holiday has been a key force behind the latest surge, but it should not mask the steady improvement in the mortgage market in the past few months. The number of higher loan-to-value mortgage deals is slowly increasing and while criteria still remains a problem, first-time buyer demand for finance is by no means dead and buried. With rents rising, and average mortgage rates so low, many see now as the ideal opportunity to get onto the property ladder. A healthy lower tier is crucial to the overall wellbeing of the housing market, with new buyers helping to unlock property chains. As things stand, the government should be doing all it can to support the fragile first-time buyer market rather than re-imposing the financial barrier of stamp duty for many buyers looking move after March."