Tag: first time buyer

People waiting until 30 to buy first home

People waiting until 30 to buy first home

The average age of a first time buyer in the UK has increased to 30 according to research by Clydesdale and Yorkshire Banks. In the face of large mortgage deposits, a shortage of affordable housing and pressure on personal incomes, many potential house buyers have to wait longer before they can afford to take their […]

April 13, 2012 More
Unrealistic house prices hamper market

Unrealistic house prices hamper market

Although more new houses were put up for sale in December, transactions were hampered by sellers asking too high a price for their properties, according to the Royal Institution of Chartered Surveyors (RICS). December saw the number of houses put up for sale increase for the third month in a row, especially in London where […]

January 10, 2012 More
Criticism of mortgage indemnity scheme mounts

Criticism of mortgage indemnity scheme mounts

PSigma Investment Management’s chief investment officer, Thomas Becket, has added his voice to the growing criticism of the government’s mortgage indemnity scheme. According to Money News, Mr Becket claims that the scheme is doomed and that a return to 95 per cent loan-to-value (LTV) ratio mortgages will cause problems in the future. The scheme was […]

December 6, 2011 More
HSBC launches sub-4% mortgage for first-time buyers

HSBC launches sub-4% mortgage for first-time buyers

HSBC claims to have launched the only mortgage with a rate of less than 4% for first-time buyers and has also promised to make a further £350m available to borrowers with smaller deposits by the end of the year. It latest mortgage offers a rate of 3.84% for two-years to borrowers with a deposit of […]

November 24, 2011 More
Houseowners must save to climb property ladder

Houseowners must save to climb property ladder

Not so long ago houseowners could rely on the equity in their existing property, generated by its growing market value, to fund a move to a larger home, but new research from HSBC confirms that this is often no longer an option. The bank suggests that a fall in property prices means that first time […]

November 15, 2011 More
Chancellor Osborne delivers 2011 Budget

Chancellor Osborne delivers 2011 Budget

Chancellor George Osborne has delivered his Budget speech today, what he has described as a “Budget for growth”. Firstly, Mr Osborne unveiled a scheme aimed at helping 10,000 first-time buyers purchase new-build flats and houses. The buyer would have to fund 5% of the cost, while the Government and home builder would both put up […]

March 23, 2011 More
Connells reports surge in seller confidence

Connells reports surge in seller confidence

Connells Survey & Valuation has reported a surge as seller confidence in June, the first clear month in which Home Information Packs have been abolished. The nationwide property valuation service saw a 20% rise in valuations, compared with a year earlier, taking volumes in the second quarter of 2010 up 13% on the same period […]

July 6, 2010 More
FTB affordability eases despite house price rises

FTB affordability eases despite house price rises

In its May affordability index, FindaProperty.com has reported that first-time buyer house prices have increased for the fourth consecutive month, taking the average asking price of a starter home to £155,677. The figure is 1.2% higher than a year ago and at its highest since February 2009. At the same time, affordability has improved for […]

May 20, 2010 More
House purchase lending up 45%

House purchase lending up 45%

House purchase lending increased by 45% in March, marking the ninth consecutive month of year-on-year growth, according to the Council of Mortgage Lenders (CML). Loans for house purchase were up 25% in volume (45,000) and 24% in value from February but for the first quarter of the year as a whole, there were 112,000 loans […]

May 17, 2010 More
Housing market recover “well underway”

Housing market recover “well underway”

The UK property market experienced a seasonal bounce last month, with estate agents reporting more properties for sale alongside a rise in the number of house-hunters. According to the National Association of Estate agents (NAEA), the stock of homes for sale in March was at its highest for six months, and although first-time buyer interest […]

April 16, 2010 More
US new home sales fall in February

US new home sales fall in February

The Commerce Department has today revealed a fall in sales of new homes in the US for the month of February. According to the Commerce Department, new single-family home sales fell by 2.2% on the month to a seasonally adjusted annual rate of 308,000 units – the lowest since records commenced in 1963. Meanwhile, the […]

March 24, 2010 More
Young Britons prepare for 10-year wait on home ownership

Young Britons prepare for 10-year wait on home ownership

Buying a home has become a pipe dream for millions of young Britons, the National Housing Federation (NHF) claims. Research by the body, which represents England’s housing associations, suggests that 50% of those wanting to get a foot on the property ladder are preparing for at least a 10-year wait. The YouGov survey commissioned by […]

March 22, 2010 More
Friendlier lending eases the way for first-time buyers

Friendlier lending eases the way for first-time buyers

Affordability for first-time buyers has continued to improve, according to FindaProperty.com. The website’s latest index suggests it is now easier for first-time buyers to get onto the property ladder than it has been at any time since the start of the credit crisis, in 2007. Stable prices and more borrower-friendly lending criteria are responsible for […]

March 16, 2010 More
New mortgage lending plummets

New mortgage lending plummets

There were 49% fewer house purchase loans approved in January than in December, the Council of Mortgage Lenders (CML) has reported. According to the body, the steep decline “emphatically demonstrates” the impact of the end of the stamp duty holiday, in December. First-time buyers recorded the largest drop among house purchasers: in January, approvals were […]

March 12, 2010 More
Official figures show 2.9% house price gain for 2009

Official figures show 2.9% house price gain for 2009

Latest UK house price statistics from the Department for Communities and Local Government (DCLG) show the value of a typical home up 2.9% in December, compared to a year earlier. The month saw a 0.8% increase on November, taking the average house price to £200,307 and completing a 2.9% gain for the final quarter of […]

February 17, 2010 More
First-time buyer loans hit two-year high

First-time buyer loans hit two-year high

First-time buyer mortgage approvals hit a two-year high in December as those buying properties costing up to £175,000 rushed their purchases through before the end of the stamp duty holiday. According to the Council of Mortgage Lenders (CML), 24,900 first-time buyer loans were sanctioned worth £2.9 billion, leaving both figures up 26% on November. In […]

February 13, 2010 More
US home sales in sharp decline in December

US home sales in sharp decline in December

The National Association of Realtors (NAR) has today revealed a sharp fall in sales of previously owned homes in the US for the month of December. The industry body said sales fell 16.7% to an annual rate of 5.45 million units in December, down from 6.54 million the previous month. Analysts had expected a rate […]

January 25, 2010 More
First-time buyer affordability best in 25 years

First-time buyer affordability best in 25 years

Potential first-time buyers on average earnings can now afford to buy a home in nearly four out of 10 regions of the UK, the Halifax has reported. According to the lender’s research, 39% of the UK’s local authority districts are accessible to those wanting to buy their first property, compared to 6% when the housing […]

January 3, 2010 More
Yorkshire BS raises cashback for first-time buyers

Yorkshire BS raises cashback for first-time buyers

Yorkshire Building Society is responding to the end of the stamp duty holiday by increasing the cashback offer on its first-time buyer mortgages. From 1st January 2010 the threshold for the tax reverts to £125,000 (from the current £175,000) and to compensate, the lender is returning 1% of the total loan, rather than a set […]

December 23, 2009 More
Rise in first-time buyer mortgages

Rise in first-time buyer mortgages

Potential first-time buyers who are dreading the end of the stamp duty holiday are being cheered on by moneysupermarket.com. The price comparison website has calculated that the number of mortgage products available to those keen to get a foot on the property ladder has risen to 1,354, up 18.3% on August’s low. The firm’s mortgages […]

December 9, 2009 More