News & Insights - First time buyer

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First-time buyer optimism grows

First-time buyers are feeling more optimistic about getting onto the property ladder than they were last year, with changes to stamp duty in April failing to dampen their desire to own a home.A third (33%) of first-time buyers think now is a good time to buy a property, according to research carried out by the Building Societies Association (BSA), almost double the number a year ago. This compares to only one in five of all UK adults (20%) who believe now is a good time to buy.

February 13, 2025

Yorkshire BS and Accord extend low deposit mortgage offering to flats

First-time buyers with a smaller deposit to put down can now purchase a flat using the £5k Deposit Mortgage from Yorkshire Building Society and Accord (Yorkshire’s Intermediary arm).

February 12, 2025

Modest improvement in affordability but challenges remain

Housing affordability in the UK has shown a “modest improvement” over the past year, according to Nationwide, although buyers continue to face challenges particularly in certain areas.

January 24, 2025

House prices finish 2024 just below all-time record high

UK house prices ended the year up 4.7% year on year in December, according to Nationwide’s latest House Price Index, with northern regions seeing stronger price growth than southern areas.

January 2, 2025

Bank of England leaves interest rates unchanged at 4.75%

After weeks of speculation that we might see one more interest rate reduction in December, the Bank of England’s Monetary Policy Committee has voted 6-3 in favour of leaving the base rate at 4.75%, with 3 members voting for a cut.

December 20, 2024

Inflation rises to 2.6% in November

Inflation jumped to its highest level in eight months in the year to November, according to latest data from the Office for National Statistics (ONS).

December 19, 2024

Renters choosing ‘fixer-uppers’ to keep buying costs down

Nearly three-quarters (73%) of homebuyers who are currently renting would consider a ‘fixer-upper’ property if it meant being able to buy at a lower price.

November 18, 2024

Base rate cut to 4.75%

The Bank of England’s Monetary Policy Committee voted 8-1 to cut the base rate by quarter of a percentage point from 5% to 4.75% in November, bringing some early festive cheer to homeowners and buyers.

November 8, 2024

House price growth slows in October

House prices climbed by 0.1% in October compared to 0.6% the preceding month, with budget uncertainty likely to have contributed to the slowdown.

November 7, 2024

Will you pay more stamp duty following the 2024 Budget?

The Autumn Budget raised the stamp duty surcharge for those buying second homes from 3% to 5% with immediate effect, hitting landlords wanting to purchase rental properties.

November 5, 2024

Bank of Family forks out record £9.2 billion to help first-time buyers

The ‘Bank of Family’ is set to give a record £9.2 billion to help family members get onto the property ladder this year, with nearly half of buyers receiving financial support from parents and grandparents.

October 14, 2024

Interest rates kept at 5% in September

The Bank of England’s Monetary Policy Committee voted by a majority of 8-1 to leave the base rate unchanged at 5% in September, although markets are still pricing in further cuts before the end of the year.

September 19, 2024

House prices jump to a two-year high

Property prices in August rose to their highest level since 2022, according to Halifax’s latest House Price Index, with the average price of a home in the UK now at £292,505.

September 13, 2024

House prices rise at fastest rate since 2022

House prices are up 2.4% compared to this time last year, according to Nationwide, the fastest rate of annual growth seen since December 2022.

September 4, 2024

Buyer demand grows following rate cut

August’s base rate reduction has boosted buyer demand, according to property website Rightmove , with buyer numbers up by nearly a fifth compared to the same period last year.

August 28, 2024

House prices see summer boost

House prices edged up in July following three relatively flat months, with prices increasing by 0.8% in July and 2.3% annually, the highest annual growth rate seen since January this year.

August 16, 2024

What the July 2024 election could mean for the housing market

A summary of the property & mortgage-related items in the main political parties' manifestos ahead of the July 2024 general election.

June 25, 2024

Longer mortgage terms on the rise

Growing numbers of borrowers are choosing longer mortgage terms so they can keep their monthly payments down and meet lenders’ affordability requirements.

June 19, 2024

Challenges facing first-time buyers differ by region

First-time buyers trying to get onto the property ladder face different challenges depending on the region they’re buying in, new research shows.

May 31, 2024

Inflation falls to lowest level since 2021

Inflation eased to 2.3% in the year to April, down from 3.2% in March, the Office for National Statistics (ONS) announced this week, providing some relief to those struggling to manage rising living costs.

May 24, 2024

Buyer demand eases in April while property listings rise

Demand from property buyers was flat in April due to rising mortgage rates, according to the latest UK Residential survey from the Royal Institution of Chartered Surveyors (RICS), although it is expected to pick up over the next 12 months.

May 17, 2024

Mortgage rates rise – grab a good deal while you can!

Mortgage rates have edged up in recent weeks amid speculation that the Bank of England may not reduce the base rate until August at the earliest.

May 2, 2024

Yorkshire launches £5k deposit mortgage for first-time buyers

Yorkshire Building Society has launched a new first-time buyer mortgage designed to help those who can only afford to put down a small deposit.

April 6, 2024

Marathon mortgage terms on the rise

Growing numbers of first time buyers are opting for ‘marathon’ mortgage terms of 35 years or more to help reduce the cost of their monthly payments, despite the fact they could end up paying more overall.

March 20, 2024

Could 99% mortgages be on the cards?

The Government is reportedly considering introducing 99% mortgages to help boost the number of first-time buyers getting onto the property ladder.

February 15, 2024

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