News & Updates

First-time buyer figures fall in February

Finance, Property, Economy

The latest data from e.surv suggests that mortgage approvals fell by 0.5% in February as lending to small deposit borrowers reduced slightly. Richard Sexton, director at e.surv, remarked: “While confidence has fallen in the housing market due to economic and political turbulence, the mortgage market continues to grow.” He went on: “Existing homeowners are able to lock into cheap fixed-rate deals while first-time buyers are being helped by more generous criteria being offered by banks and building societies. Raising a deposit remains a challenge for young borrowers, but there are more products being launched which are targeting those with little cash to spare.”

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