Category: first time buyers

first time buyers

First-time buyer benefits – what schemes are available?

Any first-time buyer trying to save up for a deposit to purchase their first home may feel daunted by how expensive the housing market is. There is no doubt that it is much more difficult to get your foot onto the property ladder than ever before. In 2023, House Buyer Bureau reported that house prices [...]
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first time buyers, Mortgage advice

Why is it harder for first-time buyers to buy in 2026?

Why is it harder for first-time buyers to buy in 2026?  For first-time buyers in 2026, the property market is in stark contrast to when previous generations bought their first homes. The average first-time buyer in 1960 paid a deposit of just £595 (roughly £12,738 today)[1] compared to an average of £53,424 in 2024[2]. A [...]
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first time buyers

How can the Bank of Family support first time buyers?

With gifts and loans from the Bank of Mum and Dad totalling a whopping £9.4bn in 2023, it would be one of the UK’s biggest if it was a real bank or lender. Given the clear affordability challenges still facing house buyers – particularly first timers – that figure only looks to set to increase. [...]
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first time buyers, Uncategorized

Why is it harder for first-time buyers to buy in 2025?

  For first-time buyers in 2025, the property market is in stark contrast to when previous generations bought their first homes. The average first-time buyer in 1960 paid a deposit of just £595 (roughly £12,738 today) compared to an average of £53,424 in 2024. A recent report by Skipton found that just one in eight […]

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first time buyers

A third of first-time buyers accepted for mortgage on first try

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 [...]
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first time buyers

First-time buyers still facing significant deposit barrier

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 [...]
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first time buyers

Low deposit mortgage deals see dramatic rate cuts

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 [...]
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