Blog Post

First-time buyer mortgages

TomS - Head Tom Simper Feb 10, 2021, 12:00 PM
193_Dataloft_inform_Insight_FTB_deposit_increase

First-time buyer purchases fell by -13% in 2020, the result of a closed housing market in spring and stricter mortgage lending. First-time buyer transactions recovered in the second half of the year, down just -2% on the same period in 2019.

The average price paid by a UK first-time buyer in 2020 was £256,057, a 10% annual increase. Deposits also increased, the average first-time buyer deposit in 2020 was £57,278, a 23% annual increase.

193_Dataloft_inform_Insight_FTB_deposit_paid

Despite the need to raise an even bigger deposit, first-time buyers accounted for half of all homes purchased with a mortgage, in line with 2019 (51%) and 2018 (50%).

Source: Dataloft, Halifax, UK Finance. * Halifax region of East Anglia is similar to East of England and North is similar to North East.

Load more comments
Thank you for the comment! Your comment must be approved first
comment-avatar

"Had a great experience with Peter Anthony Salford branch, in particular Vicky"

- Holly

"We were kept informed every step of the way and they were both proactive in dealing with solicitors to keep things moving."

- Dave

"The staff at the Salford office have been fantastic,"

- Dominic

"Very responsive and helpful through out the process"

- Saleem

"Jamie was my main point of contact and was super helpful from initial viewings, trough the offers process to getting the keys."

- Paul

"The service provided by Vicky and team at Peter Anthony was impressive"

- Don

"Quick, kind, respectful"

- Jan

"The staff at the Salford office have been fantastic"

- Dominic