Related topic: First-time buyer

For advisers, Mortgage Score is designed to help prospective borrowers better understand their financial position before seeking advice.

The maximum purchase price affordable to an average solo buyer could increase by nearly £49,000, from £216,758 to £265,703 based on the national average wage.

First-time buyer homes now cost less than six times earnings.

The new product complements the Society's existing two-year fixed rate.

First-time buyer demand softens in Q3, but Burnham’s boost to affordability only solves part of the problem, Yopa says.

Just over a third say their children are living at home specifically to save for a house deposit.

The new scheme - Your First Home - will support first-time buyers onto the property ladder.

The value of new mortgages where the deposit is less than 5% doubled to £1.5bn.

90% of first-time buyers feel prepared before they begin, but the vast majority face unpleasant surprises along the way.

The data points to a clear opportunity for mortgage brokers to support customers who may assume homeownership is out of reach.