You are here: Home - News -

More first-timers failing to get a look in 2002

  • 16/07/2002
  • 0
Signs of first-time buyers being squeezed out of the market have started to appear, according to the...

Signs of first-time buyers being squeezed out of the market have started to appear, according to the latest Council of Mortgage Lenders (CML) market briefing.

The proportion of first-time buyers has been falling since the start of 2002 and is now 33% of the market, compared with 40% in May 2001. The report claimed that while inflation remains below target,and is likely to fall further in the next few months, the threat of inflation in the next two years is rising, leading the CML to believe rates will rise sooner rather than later.

Bernard Clarke, communications manager at the CML, said: ‘The factors that see first-time buyers being squeezed out of the market are house prices and the base rate. It may be that until price increases slow, higher rates will further squeeze these buyers, but the slowdown when it comes will enable them to save and catch up.’


There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.


Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.


Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.


Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
C&G lets Ombudsman dual policy ruling lie

Cheltenham & Gloucester (C&G) has decided not to challenge the ruling by the Financial Ombudsman tha...