First Time Buyers To Increase In 2014

Figures released by the Council Of Mortgage lenders have revealed that first time buyers will top levels only seen once since records began in 1974. The last time first time buyer levels were this high was back at the peak of 2007.

The numbers show that buyers are also taking on record levels of debt as people look to take advantage of the Help To Buy Scheme before the government is forced to have rethink because house prices reach boiling point.

There are concerns that buyers are piling into the property market and taking on high levels of debt so that they can get onto the housing ladder. According to the Bank Of England there is no evidence that the housing market of overheating but this is at odds with many economists who believe that the Chancellor may have to signal the end cheap money that has flooded the markets. One thing is for sure and that is it is unlikely nothing will happen as we have a general election in 2015 and the government will not want anything to jeopardise the economic recovery.