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First time buyers fight back

First time buyers are fighting back at the recent dip in the property market and are still on the lookout for a good mortgage deal, according to research from Fair Investment.A survey by Fair Investment has shown that despite overall mortgage enquiry figures for the past three months being down on the total for the first three months of the year, the number of first time buyer inquiries has significantly increased, from an average of 56 per cent in January, February and March, to 74 per cent for August, September and October.Data also shows an increase in the number of first timers looking for 100 per cent mortgages - up to 92 per cent in the past three months, from 77 per cent in the first quarter.James Caldwell, director of explained: "Britain's love affair with the property market is far from over, despite the recent dip and the gloomy forecasts for the next few years. "Our figures suggest that while overall there have been fewer mortgage enquires since the first quarter of 2007, first time buyers are still keen to seek out a deal and are fully prepared to opt for 100 per cent mortgages if it means getting their own home."He added: "While 100 per cent mortgages may sound like the answer, even just a five per cent deposit could provide the homeowner with some peace of mind under the current climate."Our advice would be to compare the market and see what you can realistically afford to borrow. There are still some good deals to be had with many of the major lenders and now is a good time to be shrewd by exploring all the possible choices."

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