Although first-time buyers may be hit hard at the end of the stamp duty holiday in January, there are 1,354 products available to them at present, the highest figure since May 2009. This is an increase of 18.3% since August 2009 when products were at their lowest levels.
Hannah-Mercedes Skenfield, mortgages channel manager at Moneysupermarket, said it was encouraging that there was an increase in lenders providing suitable options for first-time buyers.
She added: “If lenders continue to give a helping hand to first-time buyers we could see a significant improvement in the housing market. To turn this glimmer of hope into reality for first-time buyers, the Government should announce an extension on stamp duty exemption for properties under £175,000 in Wednesday’s Pre Budget Report.”
