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 [...]