Tuesday December 1, 2020

Mortgage market stirs into life

First-time buyers are driving a steady increase in mortgage take-up

28th November, 2009

The European Central Bank (ECB) gave first-time buyers an enticing carrot to attract them back to the property market this year. An historically low interest rate environment, coupled with considerable drops in house prices, saw first-time buyers take the plunge more than any other type of home buyer in 2009.

In May, the ECB cut eurozone interest rates to a record low of 1 per cent. This marked the sixth consecutive rate cut by the bank,...

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