Related topic: First-time buyer

41% of UK areas are more cost-effective to buy than to rent, Pepper Money’s first-time buyer index has found.

44% think they will enter negative equity during their current mortgage term, rising to 56% of buyers aged 25-34.

Chris Lee, former director of Help to Buy and founder and CEO of Own Homes, says lowering the deposit is welcome, but it cannot solve limited housing supply, wider affordability...

The products do not require a cash deposit, guarantor, any other form of collateral security.

The average mortgage rate across all LTVs remains 0.69% higher than in March.

The overall fall in applications in Q2 was mainly driven by remortgage applications, which were down 38%.

During the first five years of the mortgage, a buyer using a no-deposit product would pay an estimated £158,104 in interest alone.

Most now favour giving money to family while alive, rather than leaving it in a will.

The new lending approach includes enhanced criteria for first-time buyers, self-employed applicants, contractors and customers with complex income.

The average value of home movers’ deposits fell -24.8% year-on-year, despite the average purchase price rising 1%.