First Time Buyer

A First Time Buyer is simply someone buying a house for the first time.

First time buyers can face more difficulties than existing mortgage-payers - the high level of house prices can mean it's hard to afford this first step on the property ladder, and as you have no history of mortgage payments lenders may consider you to be of higher risk.

One advantage of being a first time buyer is that you are not involved in a chain, so you may be able to negotiate a lower price for a property in return for a quick sale.

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