First-time buyers 'least affected by market problems'

First-time buyers in the UK are among those least affected by current difficulties in the mortgage market, according to an expert.

The operations director of Firstrung, Paul Holmes, claimed that the average home loan for those buying their first home has been £115,000 in recent years, while many are purchasing property with a partner.

According to the expert, such a move can make repayments manageable, as long as both parties in the couple are in work.

He said: "The first-time buyers who have managed to buy over the last couple of years have done it very conservatively.

Mr Holmes added that those with families are the mortgage borrowers most likely to suffer from the difficult financial conditions, due to their need for properties with up to five bedrooms.

According to a recent report from the Ministry of Justice, the credit crunch has led to many people having to pay more for a mortgage while fewer deals are also thought to be available in the market.

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