First Time Buyers Return to the Market
First time buyers look to be returning to the housing market, with them accounting for the highest proportion of those looking for homes in 4 years.The Council of Mortgage Lenders also found that borrowers are paying the least amount on their monthly mortgages in a decade.
The CML found that first-time borrowers accounted for 40% of house buying lending, the highest proportion since 2005. However, levels are still very low with only 12,500 buyers compared with 17,800 in March last year.
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