Blog Post

First-time buyer mortgages

Emily - Head Emily Utratny Nov 19, 2020, 11:00 AM
183_Dataloft_inform_Insight

The average mortgage for a first-time buyer across the UK is just shy of £194,000, as FTB numbers fell 29% in the first half of 2020 versus 2019.

The average deposit for a FTB is now £47,059, purchasers requiring a mortgage at 80% LTV. There are 52% fewer 80%+ LTV products available on the market now than in March, 12% fewer than in July.

FTBs accounted for over half of all house purchase loans in 2019, but these purchasers have been more significantly affected by the impact of COVID-19.

FTBs will be helped in future by continuation of the government's Help-to-Buy scheme until March 2023 and the introduction of government backed 95% LTV mortgages. Source: Dataloft, Moneyfacts, Halifax

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

"Honest Advice"

- Tom Jenkins

"I would highly recommend Peter Anthony and can't thank both Jenna and Cara"

- Sophia

"Great Experience"

- Alisha Shakshak

"Gill was recommended to me by a fellow owner."

- Mike

"The management team has been very professional, responsive and provided me with efficient service"

- Lily

"Quick, easy and reasonably priced"

- Tom

"Very professional and reassuring"

- Charles

"Thank you team."

- Chauke