Recent data has revealed buyers with deposits worth a maximum of 15% of the property price now account for one-fifth of the current mortgage market. February’s figures from e.surv saw 20.5% of buyers contributing a deposit worth 15% or less of the property price. This national figure is up by 1.8% on the previous […]
Mortgage approvals for house purchases have been steadily rising over the past few months, but February proved to be the month when all that changed. Approvals fell by 1.2% in February – the first time a fall has been noted for six months. January saw 69,114 mortgage approvals granted, and this fell by 799 […]
Most people looking to buy a property will need to save a four-figure sum to put down as a deposit. Now, a recent survey has discovered almost one in four people (23%) looking to buy a property for the first time take between five and 10 years to save the required amount of money.
Lloyds Bank has revealed the sharp rise in the average mortgage loan granted to first-time buyers purchasing properties in London in recent years. In 2012, the average amount borrowed was £185,538. Fast-forward to 2017, and the figure has shot up to £317,253. That is an average increase of £131,715, or 71% over just five […]
The Social Mobility Commission has confirmed what many people may already have thought to be true – first-time buyers regularly resort to the Bank of Mum and Dad to fund their deposit to help them get onto the housing ladder.
The commission, acting as an advisory body to the Government, has revealed an increasing number […]