There were 310,000 first time buyers in 2015 according to the Halifax with an increase in the number taking 35 year mortgages.
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Category Archives: Mortgage Affordability
New research by the Resolution Foundation finds the average first time buyer takes 24 years to save enough deposit to buy their home.
Older borrowers could soon be offered mortgages into their 80s and 90s as building societies review their age limits.
House prices in the UK are up 3.9% for the year and homeowners are biased toward fixed rate mortgages ahead of an interest rate rise.
As house prices rise Lenders have reintroduced interest only mortgages accessed only by wealthy homeowners with large amounts of equity.
Figures from the Bank of England show UK mortgage lending has hit a new high with over 71,000 loans approved in August.
UK buy-to-let landlords are at risk to booms and busts that could magnify a housing market crash the Financial Policy Committee warns.
The latest figures from the CML show mortgage lending of £138.6bn so far this year and £20bn for August.
The number of remortgage buyers increased by 30% in June as homeowners change to cheap fixed rate loans before interest rates rise.
The Council of Mortgage lenders has reported mortgage loans for house buyers reached £22 billion in July, a new post-crash record.