Simply Academy, a leading provider of financial advisor training, has commented on the first-time buyer market and its significant growth.
The double-dip recession ultimately caused a state of flux for the property market; however, according to research from the Council of Mortgage and Lenders (CML), the new government initiatives have resulted in the best start to the year since 2008. The rise of first time buyers is up by 17% as approximately 32,300 first-time buyer mortgages were completed in the first two months of 2013. First time buyers made up 43% of all house purchase loans in February and there was an increase in the amount of properties purchased for under £125,000.
The research also showed a total of 37,900 loans were advanced by both home movers and first time buyers throughout February, which amounted to approximately 5.5bn and this offers a significant rise of up to 5% in comparison to 2012. The new initiatives set by the government in this year’s budget will seemingly encourage first-time buyers to take advantage of the current property market conditions.
A spokesperson for Simply Academy commented: “The new initiatives announced by the government in 2013 budget, along with record low mortgage rates, will further stimulate the first time buyer market. Another important factor is funding for lending which is pushing down mortgage rates to record lows, which in turn encourages borrowers to be more optimistic about their chances of obtaining a mortgage and being able to afford it. Confidence is gaining momentum within the mortgage sector which is why now is the right time for all budding advisors to obtain their CeMAP qualification and commence trading.”
For more information about Simply Academy and the CeMAP training courses they run, contact them on 0844 88 444 21 or visit their website at www.simplyacademy.com.
Simply Academy was established in 2006 and has since become one of the UK’s leading financial academies. They offer a range of financial courses, including CeMAP, CeFAP, DipMAP and DipFA training and have a number of highly trained tutors with years of experience in their respective fields. They have signed the IFS School of Finance code and ensure they work to those high standards at all times.
Simply Academy Ltd
1st Floor, 15 The Broadway
Woodford Green, Essex
Zip: IG8 0HL
Tel: 0208 5066433