Number of first-time buyers at 9 year high


This may come as a surprise to some, but despite higher house prices, there were more first-time buyers in 2016 than at any time since the financial crisis, reported by our friends at Zoopla.

First-time buyer numbers sored to a nine year high in 2016 despite the typical price paid for a starter home breaking through the £200,000 barrier.

More people took their first step on to the property ladder last year than at any time since the global financial crisis struck

Mortgage lender Halifax estimates there were 335,750 first-time buyers in 2016, the highest figure since 2007 when 359,900 bought their first property.

The typical deposit put down by a first-time buyer had more than doubled since 2007 to stand at just over £32,000.

To see a full copy of the report from Zoopla please
click here

Are you a first-time buyer looking for a mortgage? Contact our financial experts at Embrace Mortgage Services on 01480 474488 or email sarah.leach@embracemortgageservices.co.uk or click here to contact us. We have an Embrace Mortgage Services mortgage adviser based at each of our 7 Thomas Morris Sales & Lettings branches.

Thomas Morris (Property Management) Limited is an introducer appointed representative of First Complete Ltd for purpose of the provision of advice in relation to mortgage and non investment insurance products. Mortgage and Protection advice is provided by LSLi Ltd t/a Embrace Mortgage Services, an appointed representative of First Complete Ltd. First Complete Ltd is authorised and regulated by the Financial Conduct Authority.

LSLi Ltd t/a Embrace Mortgage Services initial mortgage consultant is free. They will charge a of between £399 and £699 on application. The amount charged is dependent on the amount of research and administration that is required.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

LSLi Ltd is registered in England with Company number 06029502. Registered office – Newcastle House, Albany Court, Newcastle Business Park, Newcastle NE4 7YB

Back to news listings

Property search