It is true that the UK housing market is going through a crisis and if you are contemplating any kind of transaction related to this market at the moment, it would not be a wise thing to do. Moreover, if you are a first time buyer, things can get extremely difficult for you.
The reason behind this is the uneven ratio between the price of houses and the earnings. Earlier, the banks usually came to the rescue of first-time buyers in such a scenario by offering them lucrative mortgages. However, the situation has completely changed now and if you’re looking for a quick house sale London is your best bet, everywhere else it seems like a distant dream. The crunch in the economy has taken its toll and the worst affected are first-time buyers.