First Time Buyers encouraged to buy traditional Yorkshire properties instead of new build homes

June 8, 2011 - PRLog -- A Yorkshire businessman is encouraging first time buyers to buy traditional Yorkshire properties rather than new build homes and has come up with a way to help them do it.

The move comes as a survey by the Halifax shows that two-thirds of young people without their own home believe they have no prospect of getting on the property ladder.

John Laurie set up ‘First Time Buyer Solutions’ after 20 years experience working as a finance and mortgage advisor for a major bank. He sells properties exclusively to first time buyers and helps them secure the finance they need.

“With a typical deposit standing at a whopping 21% (around £33,809)* lots of first time buyers are struggling to save up the money needed for a deposit. Although there have been a number of initiatives to help first-time buyers (for example the Government ‘FirstBuy’ scheme) most of the available schemes are only relevant if you are buying a brand new home. Here in Yorkshire we have a wealth of traditional properties, many of them Victorian, that are ideal for first time buyers”.

The survey carried out by the Halifax shows that 47% of those surveyed said they would like to save for a deposit but had no spare cash to do so.

John Laurie says: “I believe that first time buyers are the lifeblood and driving force of the entire UK property market. The “credit crunch” has had a serious effect on the availability of mortgages for first time buyers, with many of the properties traditionally bought by this group now going to the ‘buy to let’ market”.

“My plan is to source and buy houses in Yorkshire and sell them to first time buyers. I’m also able to use my finance and property experience to help them find the money they need even if they have little or no deposit”.

--------END--------

Additional Information:
First Time Buyer Solutions http://www.firsttimebuyersolutions.com

Survey by Halifax polled 4,000 non-homeowners

* Council for Mortgage Lending (CML)

# # #

We are experts in providing multi-media marketing for small and medium sized businesses. Activities include press releases, video production, copy writing, e-mail and video e-mail marketing and award entry service. Raise your profile, reach new customers.