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 houses.

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.