Q. I really want to get my foot on the property ladder but am feeling somewhat apprehensive with all the talk of interest rates rising yet again and another possible leap in property prices after the 1st of June once the Home information Packs come into force, what’s your opinion?

A. Talking to buyers this week you are not alone in your thoughts. Interest rates rising have always been a concern for any first time buyer, although holding back once you are ready to purchase may not be the best option. As you rightly mentioned prices have risen substantially this year and with the arrival of HIP’S on the first of June I imagine there could be further rises as fewer property will come to the open market with many Vendors reconsidering all their options rather than selling. This in turn will push up the prices of stock that does hit the market. Talk to your financial advisor and discuss the option of perhaps locking yourself in for a couple of years on a fixed rate, that way if the rates do increase you will not be effected at least for the first couple of years which are usually the hardest as you make the transition from renting to becoming a home owner.