FTB number on the increase
The number of first-time buyers looking to get themselves a footing
on the bottom rung on the housing ladder is on the increase,
according to a new report released by Rightmove.
The firm said that, of all buyers looking to make a home purchase
over the course of the next year, some 30 per cent are first-time
buyers, showing that it is possible for them to afford
Rightmove said that this would represent the greatest number of new
buyers seen in the UK for the last three years.
First timers have been helped to buy in recent months by new
government schemes which have been brought in to help them, such as
NewBuy and FirstBuy, under which they need only raise a five per
cent deposit to be able to buy a new house.
This makes it considerably easier than trying to raise the 20 to 25
per cent commonly required by lenders.