First-Time-Buyers at Highest Level since 2007
First-Time Buyers Mortgage Advice in Sheffield
Will it Continue to Rise?
According to data from UK Finance up until 2019, it has been revealed that the number of first-time buyers is still on the rise. In fact, there are more first-time buyers seeking mortgage advice now, than they did in 2007 (pre-credit crunch).
External economic factors, such as Brexit, are less likely to put off a first-time buyer over people moving home. This is because home movers are rarely 100% certain that they ought to move. So, if you throw in some politics and it’s uncertainties, it’s completely natural for them to just wait and see what happens.
Things are clearer for First Time Buyers, especially if they have the deposit available (that is the hard bit). The choices are stark: continue living with parents, waste money on rent or buy. We find that most prefer to buy if they can.
Over the past 10 years, the number of First-Time Buyers has risen by 130%. We believe this is because more 95% options are now available and easy access to Help to Buy Equity Loan Mortgages.
Over half of all the home purchased with a mortgage are by First-Time Buyers and the remaining consist of people Moving Home and Buy to Let investors. The last time First-Time Buyers had more than 50% of market share was in 1995 when only a small amount of Buy to Lets was taking place.
The percentage of First-Time Buyers has been rising nicely for almost 20 years as the UK’s love affair with the property market stays as strong as ever. In England, homes in the North East are amongst the lowest, the average price currently sits just below £140,000.
Are you a First-Time Buyer?
If you are looking for that first perfect home in Sheffield, we have got your back. We always find that First-Time Buyers really appreciate helpful advice from a friendly Local Mortgage Broker, like us. It’s not about finding the cheapest deal for you, it’s about taking care of you and helping you take the first steps onto the property ladder with ease.
Purchasing a home with help from an experienced Mortgage Advisor will make your mortgage journey feel more secure and it can be done exactly how you want it. Advisors provide expert help with making an offer, finding what protection insurance to buy, what survey to go for and any other mortgage questions or problems you may have.
Here at Sheffieldmoneyman, we love helping First-Time Buyers achieve their dream of moving into their first home. If you are a First-Time Buyer, we think you would benefit from a Free Mortgage Consultation with one of our amazing Mortgage Advisors.