Posts Tagged ‘first time buyers’
Estimated gross mortgage lending March is 19% higher than previous month according to CML
The Council of Mortgage lenders (CML) gross mortgage lending estimate for March and market commentary published yesterday 20th April headlined ‘Gross mortgage lending increases 19% in March. The Council of Mortgage Lenders estimates that gross mortgage lending reached £21.4 billion in March. Gross mortgage lending for the first quarter of 2017 was therefore an estimated…
Read MoreHomeownership has become less affordable for young people in the UK
Publication today from the Social Mobility Commission on the Gov.UK website headlines ‘Home ownership access to first-time buyers in the UK’. Research on first-time buyers’ reliance on their parents to get onto the housing ladder. Analysis of Government and housing market data finds that the proportion of young people embarking on home ownership has fallen…
Read MoreFirst-time buyer’s increase to 36%
February saw the rate of first-time buyer’s increase to 36%, a demographic that currently accounts for just over one third of February’s property market activity, the largest proportion of first-time buyers since July 2011. It is suspected that the reason for this is twofold; near zero base rate mortgages, and the drop in buy to…
Read MoreRelatively slow house price growth in Scotland benefits first-time buyers
The latest House Price Index from Your Move released 17th March headlined ‘Scottish house prices inching higher‘. Average house prices in Scotland edged up 0.1% in January and grew 1.5% annually. The report states: Higher value properties and first time buyers drive transactions and prices. Christine Campbell, Your Move managing director in Scotland, said: “Relatively…
Read MoreLoans for house purchase at a near 2 year low in January according to CML
New data for January released yesterday by the Council of Mortgage Lenders (CML) headlined ‘Home buying activity declines in January’. In January, home buyers borrowed £8.4bn, first-time buyers borrowed £3.6bn for home-owner house purchase, home movers borrowed £4.9bn. In the report CML stated: The number of loans advanced for house purchase in January was at…
Read More£62.8 billion of new residential loans was advanced to individuals during October-December 2016.
The Bank of England – Prudential Regulation Authority released yesterday 14th March – Mortgage Lenders and Administrators Statistics – 2016 Q4. The Mortgage Lenders and Administrators Return (MLAR) is a quarterly statistical release aggregated from data on mortgage lending activities provided by around 340 regulated mortgage lenders and administrators. The return confirmed: £62.8 billion of new…
Read MoreLending to first-time buyers in November up on previous month
Press release today from the Council of Mortgage Lenders (CML) headlines ‘House purchase lending up 5% in November’ Home-owners borrowed £11bn for house purchase, up 5% month-on-month and 2% year-on-year. First-time buyers borrowed £4.7bn, up 4% on October and 9% on November last year. Paul Smee, director general of the CML, commented: “November lending reflected stable…
Read MoreConstruction of thousands of new starter homes
Announcement today from Department for Communities and Local Government and Gavin Barwell headlines ‘Green light for construction of thousands of new Starter Homes’. Housing Minister Gavin Barwell has confirmed today that 2017 will see the first Starter Homes being built on brownfield sites across the country. These new homes will be built exclusively for first-time…
Read MoreHelp-to-buy mortgage guarantee scheme to finish
The Government help-to-buy mortgage guarantee scheme which has helped more than 86,000 households so far will close at the end of this year according to the Chancellor Phillip Hammond. The scheme was specifically designed to help first time buyers get that foothold on the property ladder, however in a letter to Governor of the Bank…
Read MoreFirst-time buyers continue to drive house purchase lending.
News release today from the Council of Mortgage Lenders (CML) headlined ‘First-time buyer lending up 25% in June compared to a year ago’ On an unadjusted basis, in June: Home-owners borrowed £12.3bn for house purchase, up 29% month-on-month and 12% year-on-year. They took out 68,200 loans, up 26% on May and 8% on June 2015. more… On…
Read MoreFirst-Time buyer numbers increase first half 2016
The numbers of first-time buyers made up 47 per cent of the mortgage market in the first half of 2016, that was an increase of an estimated 10 per cent year on year, according to Halifax. Chris Gowland, Mortgages Director at Halifax, said: “There was a further increase in the number of first-time buyers in…
Read MoreApril Gross Mortgage Lending less than March.
Press release published yesterday by The Council of Mortgage Lenders (CML) headlines “Gross mortgage lending grows 16% year-on-year”. The Council of Mortgage Lenders estimates that gross mortgage lending reached £18.5 billion in April. This is 29% lower than March’s lending total of £26.2 billion, but 16% higher than the £16 billion lent in April last…
Read MoreRightmove House Price Index (May)
The latest Rightmove House Price Index report headlines buy-to-let feast leaves higher prices for first time buyers. Modest May rise of 0.4% (+£1,118) in price of property coming to market in the last month masks nasty spring surprise for first-time buyers. An 80% uplift in March transaction numbers has left behind a property drought…
Read MoreHunting for a home? The first time buyers guide
As we all know climbing onto the property ladder can be a difficult task. It can be a very overwhelming experience because you can get lost in mountains of paperwork and sometimes you are unsure of what you are even doing. Using a guide to determine the process can really help you work out the…
Read MoreFirst Time Buyers will need to save an extra 4.22% of their wages
According to Nationwide’s latest House Price Index, the UK average house price is now £200,251. Average annual salary in the UK is £26,500 which equates to a First Time Buyer needing to save up 76% of their annual salary just to cover the 10% deposit. The Hays Group reports that wages will rise 2.5% this…
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