Costs to first time buyers are £900 per year less compared to renters and over their mortgage term buying a home saves them £27,000.
Read More
Category Archives: First Time Buyers
The number of young adults on middle incomes owning a home has more than halved in twenty years with rising house prices.
The number of first time buyers has risen for the sixth consecutive year to 359,900 with deposits doubling in the past decade.
Changes in the budget means most first time buyers will not pay stamp duty but the OBR expects house prices to rise instead.
First time buyers are less likely to be supported by the Bank of Mum and Dad as a third of parents are unable to financially support their children.
There is enough space above London railway lines to build apartment blocks adding 250,000 new homes for the capital.
The cost of a fixed rate mortgage has increased for first time buyers and the Bank of England is expected to raise base rates next month.
First time buyers in London can expect to pay less to get on the property ladder as house prices fall and expectations remain negative.
The government has pledged £10 billion for the Help to Buy scheme to fund 135,000 first time buyers to get on the property ladder.
For first time buyers a discount mortgage could save them money rather than fixed rate where the interest charged is more expensive.