#first-time-buyers

#first-time-buyers

A carefully measured relaxation of mortgage lending criteria could open the door for more first-time buyers without triggering a significant rise in loan defaults, a leading banking and finance body has suggested. UK Finance's analysis indicates that a modest increase in lending, facilitated by reduced stress rates, could enhance mortgage accessibility, particularly for those entering the property market for the first time, without substantially increasing arrears.

Mortgage rates are now at their lowest level in over two years, which is obviously good news for prospective first-time buyers and those looking to switch their mortgage over the coming months.

"Ranch homes are often the preference of first-time buyers and empty nesters due to single-story convenience and ease of maintenance. The style is particularly well-liked in Sun Belt states like Texas and Arizona," said Alexei Morgado, real estate agent and CEO of Lexawise.

The Financial Conduct Authority (FCA) has released a discussion paper outlining the potential benefits and risks of rule changes, aiming to support wider access to sustainable home ownership.

New data reveals that Gravesend, Dartford, and other south London areas rank among the most affordable places for first-time home buyers in London.

In March 2025, UK homebuyers paid £1.4 billion in stamp duty, a 34% increase from February, as they rushed to beat impending tax hikes.

"Starter homes aren't what they used to be," says Redfin Senior Economist Elijah de la Campa. "A decade ago, a turnkey four-bedroom house in a nice neighborhood was often considered a starter home, but today, a small fixer-upper condo is often all a first-time homebuyer can afford."