Skyline Mortgage Blog — Skyline Mortgage Consultants | Advisors In Muswell Hill, North London

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First Time Buyers Reach A 12-Year High

First Time Buyers Reach A 12-Year High

First-time buyer numbers have reached a 12-year high, according to the Ministry of Housing, Communities & Local Government. Data collected by the MHCLG shows that there were 35,010 FTB mortgages completed in August 2019. This represents the greatest total since the previous high set in August 2007, when 35,070 FTB mortgages were completed.

The Majority Of First-Time-Buyers Rely On Relatives To Buy Their First Home

The Majority Of First-Time-Buyers Rely On Relatives To Buy Their First Home

Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.

First Time Buyers Prefer Using Mortgage Brokers

First Time Buyers Prefer Using Mortgage Brokers

Research from Aldermore shows that over three quarters of first-time buyers who used a broker – 76 per cent – would do so again. The lender also found that 81 per cent were happy with their experience of using their broker, and that 80 per cent would refer their broker to a family member or friend.