First time buyers
The main barrier to moving up the property ladder for 63% of homeowners is the need for the value of the current property to increase.
Tesco Bank has confirmed it will cut rates on its two, three and five year fixed-rate mortgages.
Older people looking to ‘downsize’ should not have to pay stamp duty on the purchase of a moderately-priced home, a group of MPs has recommended.
Other First time buyers articles
Home buyers using the Help to Buy mortgage guarantee scheme were able to access the property ladder with average deposits of just £8,974 in September, according to data from Mortgage Advice Bureau (MAB).
The number of first-time buyer UK house completions increased year-on-year in September, defying trends of a slowdown in the market.
Research has revealed that British house-hunters feel increasingly disenfranchised by the lack of affordable housing.
All types of lending declined in August compared to July, according to the Council of Mortgage Lenders (CML).
CML data on the characteristics of lending in July show that the market remains driven primarily by lending for house purchase, rather than remortgages.
Data suggests first-time buyer property prices are rising faster than those for any other demographic compounding the affordability struggle to get on the housing ladder.
The average first-time buyer receives roughly half of their house deposit from their parents, a study has revealed.
The government is undermining its own Help to Buy scheme by imposing a large tax burden on first-time buyers, the Council of Mortgage Lenders has argued.
Affordability for so-called second-steppers has leapt in the past year, according to a survey.
A buoyant English market drove UK house prices up 3.8% in the twelve months to August 2013, according to the Office for National Statistics house price index.
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