Buying my first home

The most coveted of prizes for all estate agents, property developers, and house builders is the ?first time buyer?. It looks like this increasing rare breed has been almost hunted to extinction, the use of a devastating weapon is the main reason for the high numbers culled in their infancy. This most effective weapon is of course ?tighter lending criteria?, when in the hands of a well trained banker this weapon can devastate a huge number of first time buyers before they even make it to the estate agents window.
This is probably why we now have the lowest level of home ownership in the UK since 1991, so where have all the houses gone? Don?t worry they are still there but many have changed hands, the fall in the owner occupier market has been compensated by an increase in the private rented sector. Private landlords are now providing accommodation for those first time buyers who have been unable to obtain the mortgage funding they desperately need to obtain their first home.