Now may be a good time for first-time buyers to make their move - but will the 'Bank of Mum and Dad' be footing the bill? 

With a stamp duty hike having recently been imposed on buy-to-let investors, people trying to get onto the property ladder could find they have less competition from those snapping up investment properties. 


There are also signs that sellers are offering bigger discounts in the hope of securing a sale - which could give first-time buyers further room for negotiation. 


Sarah Beeny, owner of estate agent, Tepilo, says: "Following a few busy months, where investors tried to beat the stamp duty rise, the property market is currently looking increasingly attractive for first-time buyers.


"First-time buyers are vital to the health of the property market; their first step onto the property ladder is crucial for those further up the chain taking their next step."


Bank of Mum and Dad


There's one lender though that still seems to be vital to many would-be homeowners' plans: the Bank of Mum and Dad. 


New research suggests that despite various schemes to help people onto the property ladder, parents are still a key financial factor. 


A report from Legal & General and economics consultancy Cebr has predicted that the Bank of Mum and Dad will be involved in a quarter (25%) of all property transactions taking place in the UK market this year.


Separate research from Experian has found that more than one in four people aged 55 and over have given financial support to their child, or someone else, to help them buy a property. 


Long life mortgage  


And while there may be some more opportunities to get on the property ladder, some of us may find ourselves paying off our mortgage into our 80s. 


Halifax has just raised its upper age limit for mortgages to 80, while Nationwide Building Society plans to raise its limit to 85 from July. The moves reflect changes to society, as people live and work for longer. 


HOW... can first time buyers make the most of the market?  


Here are some tips from Sarah Beeny:


Look at all of the options for finance - there are a number of Government schemes aimed at helping first-time buyers get onto the property ladder including Help to Buy and Help to Buy ISAs.


Be creative and flexible - as this is unlikely to be your "forever" home, look at lots of different areas to see where you can get the best deal for your money. 


Consider homes that need a bit of TLC or renovation, this could be a great way to add value to your first property purchase ready for your next step up the property ladder.


Tap into the local area -  Register for email updates for properties which have just come onto the market and suit your criteria so you're 100% up-to-date with what's available in the locations where you're looking to buy. 


Budget, budget and budget - When you're working out your budget make sure you build costs such as the solicitor's fees, legal searches, stamp duty, surveys, buildings insurance and removal costs into your budget.


Play to your strengths - use your position as a first-time buyer to your advantage - you're chain free and ready to go, vendors need buyers like you to enable them to move up the chain, capitalise on this by negotiating on price where you can.