Related topic: First-time buyer

Data from Key Partnerships shows that the Bank of Family can increase mortgage choice for first-time buyers while reducing rates and LTVs.

This is despite more than two thirds (68%) being offered protection advice during the mortgage process.

The number of homes for sale is at an 11-year high for this time of year, giving buyers more choice and negotiating power.

The lender is offering the lowest 95% LTV rate currently available on the market following the reductions.

Nationwide’s lowest rate is now 3.54% for new and existing customers looking to move home.

Higher LTI ratios and greater product choice offset rising rates for first-time buyers.

The Society has cut 80% and 90% LTV rates and introduced new fee options to support borrowers with higher loan sizes.

The lender's income booster product will help expand borrowing power for first-time buyers in the region.

Over 90% of 18–34s surveyed were charged a broker fee, compared to 42% of over-55s.

Patrick Bamford, head of international business development at Qualis Credit Risk, says unlike in the pre-Budget period last year, there appears to be little reason for first-time...