Written by: Anna Sagar 13/12/2021 Just over a third (35%) of first-time buyers are accepted for a mortgage on their first try, down from about half (48%) in March last year before the pandemic. According to Aldermore’s first-time buyer index, a survey of 2,015 prospective first-time buyers, about 45% of prospective first-time buyers were rejected [...]
It's getting tougher for aspiring homebuyers as house prices rise faster than wages Raising a deposit is still proving a huge barrier to aspiring homeowners, said Nationwide. It found that high house prices relative to average earnings mean first-time buyers struggle to raise a decent-sized deposit for a home. In the third quarter of this [...]
Borrowers with a five or 10 per cent deposit are seeing significant reductions in the cost of mortgages There have been large rate cuts across low deposit mortgages in the last month, according to Moneyfacts, driven by continued competition among providers. The financial information provider said that the most dramatic month-on-month average rate cuts were [...]