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First time buyers going for increasingly cheaper options

The average property value being considered by first time buyers fell to £170,559 in April, down 5.75 per cent on March, according to financial website

Average prices in April 2008 show a 4.78 per cent reduction on figures from the same time last year.

But says the average loan-to-value ratio first time buyers are taking has risen to its highest level at 82.89 per cent.

The website says the average amount first time buyers were looking to borrow in April was £141,369. senior editor Robin Amlôt says: “While it may be getting tougher to get a mortgage now, it would appear that those first time buyers who are in a position to buy are driving much harder bargains with sellers.

“Housing is very definitely a buyers’ market now rather than the sellers’ market that existing homeowners had become used to.”


Lifesearch relaxed about RDR read-across

In the midst of the Retail Distribution Review Interim Report hyper-activity that was last week Lifesearch said it was relaxed about the FSA extending the RDR to protection business, as long as proposals to distinguish advice from sales go ahead.

A shaw thing

Sam Shaw is a reporter on Money Marketing
Between the RDR interim report, Money Marketing’s retirement summit, Lighthouse and Bates overseas conferences and some other investment conference, we needed to let our hair down a bit this week – just for a change.

Women set for £1bn in pension benefits

Hundreds of thousands of women in or approaching retirement could be in for £1bn in unpaid state pension benefits after the Government announced a review into the HMRC pension system.


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