Related topic: First-time buyer

First-time buyers are the largest group of home buyers, accounting for half of all new mortgages for home purchase.

Stamp duty hits four in five homeowners and two in five first-time buyers across the country.

First-time buyer numbers are up by 11.4% so far this year, but growth is starting to slow.

Nathan Reilly, commercial director at Twenty7tec, says the rise in income multiples is not just a boost for buyers, it’s a moment where advisers can prove their value. 

The proposals are also estimated to save first-time buyers £710 on average.

Industry experts say the ripple effects could be felt across the housing chain, making it harder for aspiring buyers to get onto the property ladder.

Remortgage searches climbed sharply to 820,429, a double-digit rise of 10.70% in August.

The reductions also include the lender’s £5K Deposit Mortgage.

88% of prospective buyers expect to purchase a property within 18 months.

Sebastian Murphy, group director at JLM Mortgage Services, says if the Government is serious about improving first-time buyer outcomes, it needs an ongoing conversation with the people...