Blog Post

First-time buyer funding

Gill - Head Gillian Bell Nov 9, 2023, 11:00 AM

The average deposit paid by a first-time buyer was £43,693. Perhaps unsurprisingly, almost two-thirds (63%) were in the top 40% income bracket.

Just over two thirds (68%) of first-time buyers paid less than a 20% deposit, while a fortunate 5% were mortgage-free.

85% reported funding the purchase of their first home with savings, whilst 27% received help from family and friends and 8% used inheritance.

Despite high costs, first-time buyers accounted for 53% of all home moves in Q3, the highest proportion in over a year. With increasing stability and the likelihood of mortgage rates coming down, more first-time buyers may enter the market in the coming months. Source: #Dataloft, English Housing Survey 2021/22, Really Moving

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

"I would highly recommend Gill and the team"

- Isabelle

"I honestly can’t sing the praises of the Liverpool branch any higher"

- Phoebe

"Sean C. - he is a very helpful person! Cheers!"

- Tomasz

"I deeply appreciate Peter Anthony Estate, especially Abbey, who works here."

- Delar

"I found Sean to be an understanding and friendly guy"

- Mike

"Sean is a really pleasant courteous gentleman to deal with too"

- John

"Wouldn't hesitate in recommending Peter Anthony for any of my requirements when it comes to a home"

- Craig

"Very helpful and proper guidance on time"

- Shine Xavier