Individuals considering the benefits to be had through Islamic mortgages may be wise to look at the property options available to them in the north of England.
New research carried out by Halifax has shown this region of the country offers the best opportunity for first-time buyers (FTBs) to get their foot on the first rung of the housing ladder.
According to the study, Selby in north Yorkshire is home to the youngest FTBs - aged 25 - with Redcar and Cleveland In the north-east close behind.
Other areas with young homeowners include Barrow-in-Furness in Cumbria, Bolsover in Derbyshire and South Ribble in Lancashire.
Nitesh Patel, housing economist at Halifax - which is a division of Bank of Scotland - noted there are several places in the UK where the average age of FTBs is three to four years lower than the national average of 29.
The industry figure added: "Most of these areas are in northern England where house prices are typically lower both in absolute terms and in relation to earnings."
People buying in the north could consider Islamic mortgages
Mon, 26 Sep 2011
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