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First-time buyers 'on the rise'

First-time buyers 'on the rise'
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A growing number of first-time buyers in the UK have been able to snap up a bargain as a result of falling house prices.

Figures from the National Association of Estate Agents found that number of people getting on the property ladder for the first time increased from 8.3 per cent to 9.5 per cent between August and September.

According to Property Wire, Scotland could be seeing the first signs of recovery in the housing market.

Leslie Deans, senior partner of Leslie Deans and Co and a member of the Edinburgh Lothians Property Group of estate agents, said liquidity and the flow of funds has improved, making it much easier for people to acquire mortgages.

"Although the days of 100 per cent mortgages are gone, more lenders are back to offering 90 per cent mortgages," he said.

In related news, Spain has attempted to stimulate the housing market by giving mortgage holidays to the unemployed, reports the Times.

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