First-Time Buyers at Highest Level Since 2007
First-Time Buyers – Mortgage Broker in Hull
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 rising fast. In fact, there are more first-time buyers seeking Mortgage Advice in Hull now, than they did in 2007 before the credit crunch.
We have learnt that external economic factors, such as Brexit, are less likely to put off a first-time buyer than a person moving home. This is because home movers are rarely 100% certain that they ought to move. So, if you throw in some political uncertainty it’s completely natural for them to just wait and see what happens.
Things are clearer for First Time Buyers. If they have the deposit available (that is the hard bit) then the choices are stark: continue living with parents, waste money on rent or buy. Most prefer to buy if they can.
Over the past 10 years, the number of First-Time Buyers has shot up 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 rest 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 Hull, we have got your back. We find that First-Time Buyers really appreciate helpful advice from a local Mortgage Broker in Hull, like us. It’s not always 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.
Buying a home with help from an experienced Mortgage Advisor in Hull will make your mortgage journey feel more secure. It can be done exactly how you want it. Advisors deliver expert help when making an offer. They can help you find what protection insurance to buy, what survey to go for and any other mortgage questions or problems you may have.
Here at Hullmoneyman, 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. Speak to one of our amazing Mortgage Advisors in Hull today.