ERA brokers find increase in the number of viewers of properties in January
Homeownership is beginning to look like a more realistic goal for thousands of first time buyers that had been priced out of the property market. Interest has increased from these prospective buyers who have clearly been keeping an eye on the market as prices have continued to drop.
While there are reports in the market that we can expect further price falls through 2009 buyers are now becoming aware that through aggressive negotiation they can secure this anticipated price reduction from sellers who need to secure a sale now.
ERA Ireland brokers report a loosening in the availability of mortgage finance from the key banks but a strict tightening in qualification terms for first time buyers seeking a mortgage.
92% mortgages are available in the market for financially viable borrowers at a competitive mortgage rate of 2.99%. In the first time buyer market there has been a time delay as buyers have needed time to build the now substantial deposit required to get on the property ladder. Building a deposit is no small task, but those who have chosen to start putting extra money away are clearly better prepared to make an offer on a property when they see their opportunity.
Savers need to be aware that a large deposit will make it easier for them to be accepted for the best mortgage deal and will leave them in a position to negotiate more favorable mortgage terms.
While there are reports in the market that we can expect further price falls through 2009 buyers are now becoming aware that through aggressive negotiation they can secure this anticipated price reduction from sellers who need to secure a sale now.
ERA Ireland brokers report a loosening in the availability of mortgage finance from the key banks but a strict tightening in qualification terms for first time buyers seeking a mortgage.
92% mortgages are available in the market for financially viable borrowers at a competitive mortgage rate of 2.99%. In the first time buyer market there has been a time delay as buyers have needed time to build the now substantial deposit required to get on the property ladder. Building a deposit is no small task, but those who have chosen to start putting extra money away are clearly better prepared to make an offer on a property when they see their opportunity.
Savers need to be aware that a large deposit will make it easier for them to be accepted for the best mortgage deal and will leave them in a position to negotiate more favorable mortgage terms.
