First-time buyers are spending upwards of £30,000 in the first three months of moving into their new home.

Nationwide has reduced rates by up to 0.30%, offering sub-4% first-time buyer rates for first time since September 2024.

Assistance paid out since 2021 totals £38.5 billion – 71% more than the previous four years.

The biggest decline is in younger first-time buyers, the Association found.

This current affordability ratio is the best it’s been in the last 10 years.

The Society says the tax changes mark a 'cliff-edge moment' for first-time buyers.

So far this year homebuyers have paid £3.3bn in property tax.

Fewer than one in five people think now is a good time to buy a home.

The lender is cutting rates by up to 0.25 percentage points.

Ben Thompson, deputy CEO at Mortgage Advice Bureau, reflects on the outcome of Spring Statement and the need for more concrete support for aspiring buyers.