First Time Buyers at Highest Level since 2007

According to data from UK Finance up until June 2019, it has been revealed that the number of First Time Buyers continues to rise. In fact, there are more First Time Buyers now seeking mortgage advice since before the credit crunch in 2007.

The First Time Buyers' certainty


In my experience, external economic factors such as Brexit are less likely to put off First Timer Buyers than Home Movers. Home movers are rarely 100% certain that they ought to move, so when you throw in some political uncertainty it’s completely natural for them to say, “Let’s just wait and see what happens”.


Things are clearer for First Time Buyers. If they have the deposit available (that is the hard bit) then the choices are stark: continue living with parents, waste money on rent or buy. It would seem that most prefer to choose the option of buying if they are able.


Over the past 10 years the number of First Time Buyers has increased by over 130%. This is because more 95% mortgage bands are now available and there’s additional access to Help to Buy Equity Loan Mortgages.


Over half of all homes purchased with a mortgage are by First Time Buyers with the remainder built up from Home Movers and Buy to Let Investors. The last time First Time Buyers had more than 50% of market share was in 1995 when only a small number of Buy to Lets were taking place.


The percentage of First Time Buyers has been rising nicely for almost 20 years as the UK’s love affair with the property market stays as strong as ever.In terms of value, homes in the North East of England are amongst the lowest. The average sits currently just shy of £140,000.


We'd love to be able to help you


We find that First Time Buyers really value advice from a local Mortgage Broker. It’s not simply about finding the cheapest deal for them. They really appreciate having their hands held throughout the full process of buying their first home. They want the jargon explained, advice on how to make an offer, what protection insurance to buy, what survey to go for and a hundred other questions answering.


We love helping First Time Buyers achieve their goals and we’d love to hear from you if you think you’d benefit from a Free Mortgage Consultation to find out more.

Let’s get mortgaging!

Call us for you free consultation 8am to 10pm