FTBs Should Take Small Deposits Overseas
With all the speculation in the media about the credit crunch, a possible housing market crash and falling house prices, first time buyers are really feeling hard done by at the moment.
However, it turns out the first time buyers could benefit from taking their relatively small deposits overseas.
Helen Adams, managing director of FirstRungNow has said "There are countries out there where property prices are growing quite considerably. This means you can increase a small deposit to a larger one a lot more easily.
"The trouble with Spain and France, especially Spain, is you won't get the capital growth - which is what will enable you to put a deposit down in the UK, if that's what your reason for buying is."
Ms Adams continued to say that less obvious locations, such as Turkey, are more likely to offer the growth needed by a first time buyer.
Especially with the availability of mortgages for property in Turkey, the property market is increasing in popularity amongst prospective buyers.
Click here to search for your perfect property...
However, it turns out the first time buyers could benefit from taking their relatively small deposits overseas.
Helen Adams, managing director of FirstRungNow has said "There are countries out there where property prices are growing quite considerably. This means you can increase a small deposit to a larger one a lot more easily.
"The trouble with Spain and France, especially Spain, is you won't get the capital growth - which is what will enable you to put a deposit down in the UK, if that's what your reason for buying is."
Ms Adams continued to say that less obvious locations, such as Turkey, are more likely to offer the growth needed by a first time buyer.
Especially with the availability of mortgages for property in Turkey, the property market is increasing in popularity amongst prospective buyers.
Click here to search for your perfect property...
