Statistics from the financial division of haart, the UK independent estate agent, show 38.4% of all applicants were first time buyers in September.
What’s more, first time buyers appear to be hedging their bets on interest rates, opting primarily for two or sometimes three-year fixed rate mortgages. A smaller number have chosen two or three year tracker mortgages.
David Miles, Managing Director of haart Financial Services, said:
"It is extremely pleasing to see an increase in the number of first time buyers looking for mortgages, particularly given the well-documented problems this sector of the market has experienced of late accessing finance.
"First time buyers are a key component of the mortgage market and the increase is a clear indication of the increasing willingness among lenders to support their efforts to get onto the property ladder."
