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.”