First-time buyer funding
13th November 2023
The average deposit paid by a first-time buyer was £43,693. Perhaps unsurprisingly, almost two-thirds (63%) were in the top 40% income bracket.
Just over two thirds (68%) of first-time buyers paid less than a 20% deposit, while a fortunate 5% were mortgage-free.
85% reported funding the purchase of their first home with savings, whilst 27% received help from family and friends and 8% used inheritance.
Despite high costs, first-time buyers accounted for 53% of all home moves in Q3, the highest proportion in over a year. With increasing stability and the likelihood of mortgage rates coming down, more first-time buyers may enter the market in the coming months. Source: #Dataloft, English Housing Survey 2021/22, Really Moving
Employee of the month – December
14th January 2025
We are thrilled to announce that Firdows, our dedicated Finance Administrator, has been awarded the Employee of the Month! Firdows…
Renters Rights Bill update
14th January 2025
The Renters Rights Bill returns to the House of Commons today, 14th January 2025. MP’s will be discussing the latest…
Is your Landlord Insurance renewal due?
14th January 2025
We know navigating insurance can be a minefield. If your insurance is due for renewal soon or you simply want…
