16 October 2018

First-time buyer numbers at highest level since June 2017

The number of first-time buyer completions rose 2 per cent in August to the highest level since June 2017, according to UK Finance.

First-time buyers really are proving to be the lifeblood of the housing market, responsible for keeping the number of overall house purchase completions at a stable level. Lenders continue to offer competitively priced high loan-to-value products to attract them and with property prices softening in some areas, there are good opportunities for those trying to get on the ladder for the first time.

UK Finance also reports that buy-to-let remortgaging remains strong as a core of experienced landlords remain committed to the sector, despite recent tax and regulatory changes. Lenders remain keen to lend and product innovation continues. The Chancellor would do well to leave the sector alone in the Budget and give it time to recover from the onslaught it has been on the receiving end of in recent times.

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