The lender has cut two-year fixed rates at 90% and 95% LTV.

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.