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NUMBER OF FIRST-TIME BUYERS DROPS

Mon 01 Feb 2016

First-time buyers down 0.5% last year compared to 2014 to 310,000 first drop since 2011

Lack of supply is being blamed with average deposit now in excess of £32,000 across the UK and London requiring an average deposit of over £91,000 with over 25% of buyers taking a long 35 year mortgage. Compared to 2007 the average deposit was £17,499 an increase of 88% due to the lack of supply of 100% mortgages

Craig McKinlay, mortgages director at Halifax, said: “Although the average price of the typical first-time buyer home has grown by 10% in the past year, the number of buyers taking that first step onto the housing ladder has been supported by favourable economic conditions; namely, record low mortgage rates, rising employment and real pay growth.”

""David and the team are very professional and friendly. We had a few hiccups along the way with our sale (not the agents fault) this is quite normal when buying or selling property. They were not pushy in any way but assisted us where necessary. If I contacted them, they very quickly replied even if they couldn't answer my query, they would call to acknowledge my contact then deal with the matter as soon as was possible. 5 stars from me *****""
Jill Glass