First time buyers make up over half of new mortgages

22nd July 2016

The proportion of house purchase loans given to first-time buyers hit 53% in April, and was 51% in May. According to Council of Mortgage Lenders figures, it was the first time the figure had overtaken the 50% mark since 1996. The launch of Help to Buy, the state-backed scheme allowing borrowers to buy a home with just a 5% deposit, has caused a surge in new deals. When the scheme was launched, there were 42 products; now there are 227.

Daily Mail (21/07/2016)