Rise in first-time buyer mortgage applications...

The number of mortgage applications from first-time buyers rose to its highest level for almost six months, according to new figures from haart Financial Services. Statistics from the financial division of haart show 38.4% of all applicants were first-time buyers in September. What's more, first-time buyers appear to be hedging their bets on interest rates, opting primarily for two or sometimes three-year fixed rate mortgages. A smaller number have chosen two or three year tracker mortgages. David Miles, Managing Director of haart Financial Services, said: "It is extremely pleasing to see an increase in the number of first-time buyers looking for mortgages, particularly given the well-documented problems this sector of the market has experienced of late accessing finance. "First-time buyers are a key component of the mortgage market and the increase is a clear indication of the increasing willingness among lenders to support their efforts to get onto the property ladder."