The return of the first-time-buyer boom

The return of the first-time-buyer boom
Posted by Gary Cooper

In 2014, the number of people buying a property for the first time rose to the highest since 2007. Apparently there were 326,500 first-time buyers (22 per cent more than the year before) according to figures gathered by Halifax this week.

First-time-buyers accounted for 46 per cent of all borrowers last year, a 44 per cent increase on 2013. It's thought that one of the main reasons is government support for first-time-buyers in the form of the Help to Buy scheme. There was also a rise in more affordable mortgages. 

Craig McKinlay, mortgages director at the Halifax, said: “Improving economic conditions and rising employment levels have also boosted confidence among those thinking about getting on to the housing ladder for the first time.”

 

Follow the links if you're a first-time-buyer looking to buy a property or get a mortgage.  We can help with both. Contact us today on 0203 7736 531, or take a look at all of our financial services

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