First-time buyers in 2017 reach decade-high

As per UK Finance, 2017 overall saw the highest number of first-time buyers (365,000) since 2006.

There were 30,800 new first-time buyer mortgages completed in December, some 5.2 per cent fewer than in the same month a year earlier.  The £5.1bn of new lending in the month was 1.9 per cent down year-on-year.  The average first-time buyer is 30 and has an income of £41,000.

2017 overall saw 365,000 first-time buyers. The highest number since 2006. This is an annual increase of 7.4 per cent from 340,000 in 2016.

There were 30,700 new home mover mortgages completed in December, some 4.7 per cent fewer than in the same month a year earlier.  The £6.5bn of new lending in the month was 3 per cent down year-on-year.  The average home mover is 39 and has an income of £55,000.

There were 30,500 new homeowner remortgages completed in December, some 7.4 per cent more than in the same month a year earlier.  The £5.2bn of remortgaging in the month was 8.3 per cent more year-on-year.

There were 5,300 new BTL house purchase mortgages completed in December, some 17.2 per cent fewer than in the same month a year earlier.  By value this was £0.8bn of lending in the month, 11.1 per cent down year-on-year.

There were 9,900 new BTL remortgages completed in December, some 11.6 per cent fewer than in the same month a year earlier.  By value this was £1.6bn of lending in the month, 11.1 per cent down year-on-year.

We, at Care4Properties Leeds, are committed to provide best services to the first time buyers as well as landlords. Our services range from lettings, sales, buy, management, mortgages, repair, finance and accountancy.

Source for the statistics in the blog is UK Finance.

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