First-Time Buyers On The Rise As Buy-To-Let Mortgage Market Falls

The number of first-time buyers rose in May while the number taking on new buy-to-let mortgages fell, in a sign that government policies and tax changes are rebalancing the housing market. There were 32,200 new mortgages completed for first-time buyers over the month, 8.1% more than in May last year. The £5.4bn of new lending was up 12.5. The average first-time buyer in the UK is 30, has a gross household income of £42,000 and takes on a loan of £142,452 at a loan to value of 85%.  However, the number of new buy-to-let mortgages fell by 9.8% in May. Read more on the Guardian website.

https://www.theguardian.com/business/2018/jul/12/first-time-buyers-on-the-rise-as-buy-to-let-mortgage-market-falls