The number of first-time buyers is down 22% between January and August 2023, compared to same period last year.
Related topic: First-time buyer
Patrick Bamford, head of international business development at Qualis Credit Risk, looks at the future path for mortgage rates at higher LTVs.
32% of mortgaged first-time buyers across Great Britain received family support towards their deposit this year, up from 30% in 2022.
Lower asking prices, combined with increasing average earnings and falling mortgage rates, are tentative steps towards improved buyer affordability.
On average, prospective buyers are looking to save £36,000 towards a deposit.
Ryan Brailsford, business development director at Pepper Money, discusses the return of the 100% LTV mortgage and whether lenders' own propositions can help first-time buyers alongside...
The Society has also reduced rates at 95% LTV.
Gen H has also launched an expanded homebuying bundle combining mortgage and legal services.
The research shows that buy-to-let mortgages have seen the largest interest rate increase since the end of Q1.
Patrick Bamford, head of international business development at Qualis Credit Risk, looks at the current mortgage rates available to first-time buyers and where the market might go...