FIRST-TIME BUYER NUMBERS RISE, WHILE LANDLORD MORTGAGES SEE DOUBLE DIGIT DROP nr

First-time buyer numbers rise, while landlord mortgages see double digit drop

First-timers have not yet been deterred by Brexit, but buy-to-let landlords are less bullish when it comes to purchasing property.

There were 36,200 new first-time buyer mortgages completed in November 2018, 5.8% more than in the same month a year earlier, according to UK Finance.

They borrowed a total of £6.0bn of new in the month, which was up 9.1% year-on-year.

Keith Haggart, managing director at lifetime mortgage provider Responsible Lending, said: “The march of the first-time buyers shows they are completely unbothered by Brexit, and the political slapstick unfolding in recent months has done nothing to stem their determination to get a foot on the property ladder.

 

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