Many new homeowners are starting to feel nervous at the thought of negative equity due to recession. These so called ‘recession virgins’ have taken to checking the current value of their homes on a regular basis, for fear that their dream homes could be diminishing in equity value.

Other potential first time buyers have admitted postponing the purchase of their first home until the market becomes a bit more stable. Whilst some have decided to abandon plans of buying a property in the UK completely, favouring the better returns available within the overseas property market. 

And while patience may be prudent, first time buyers are the lifeblood of a healthy property market. So it is vital that young people are offered the best possible support to make their dreams of home ownership a reality.

If you have any thoughts on this entry or the state of the UK property market, then please share them in the comments section below

If you’d like mortgage advice then W3 Debt Solutions would be happy to offer a free, no obligation chat. Please fill out the contact form on our website.