Related topic: First-time buyer

The Bank Family is becoming essential for first-time buyers, as gifting shifts from inheritance to lifetime giving.

Instead, this generation is prioritising being debt-free, financial independence and maintaining a high quality of life as their key markers of success.

6% have received family support to help them afford a first-home deposit.

The latest reductions cover first-time buyer and buy-to-let remortgage products.

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%.