First time buyers for homes is staring to increase. While it may seem impossible to buy a home in todays market, many people are taking advantage of special offers and certain ways to make purchasing a home in their favor. There is still a large number of people out there that are proving it difficult to get a new home and have it be affordable, but with this new research, it is promising and hopeful for many of those out there with the dream of owning their own home.
Key Takeaways:
- There is a new trend in first time home buyers using home loan specialists for mortgages rather than going to a bank
- Because of specialist mortgages, there has been an increase of first time home buyers on the market
- Wider range of products offered by specialists makes buying your first home more affordable, which brokers currently are not offering
“The research also shows that Vida loaned first-time buyers an average £171,000 per purchaser, over £35,000 more than the average loan amount quoted by the CML.”