First Time Buyer Mortgages

First-time buyers cannot afford to buy a home in 80% of UK towns, a survey from the Halifax bank has suggested. According to the study, average-priced homes in 531 out of 667 UK postal towns were beyond the means of people on average salaries.

The problem of affordability was most acute in the south of England, where house prices have outpaced earnings.


"Affordability is clearly a serious issue for first-time buyers and one that shows no signs of abating in the near future," Shane O'Riordan, group economist at Halifax said. "First-time buyers will find the going tough again this year as house price growth continues, especially outside London." However, most first-time buyers by clubbing together with their partner or a friend could still afford a home, the bank said.

With property prices escalating out of the reach of many first time buyers, there has never been a greater reason than now for obtaining specialist mortgage advice.

As specialist mortgage brokers, we can arrange, first time buyer mortgages, no deposit mortgages, self certified mortgages, right to buy morgages, an adverse credit mortgage, 100%,125% morgages are even possible.

We regularly arrange 5 times income, 6x salary mortgages and 4 times joint income mortgages, plus parents guarantee mortgages, family offset mortgages, shared ownership mortgages, including buying with a friend and through a housing association .

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