Smaller deposits on the increase

ModernSlave

I remember last time this sort of thing was in the news - around 2007.
http://https://www.theguardian.com/business/2017/may/01/smaller-deposits-raise-hopes-for-uk-first-time-homebuyers

IveSeenTheLight

ModernSlave wrote: »

I remember last time this sort of thing was in the news - around 2007.
http://https://www.theguardian.com/business/2017/may/01/smaller-deposits-raise-hopes-for-uk-first-time-homebuyers

I thought I read recently in the that there were 10 year highs in First time buyers

http://www.cityam.com/256981/number-first-time-buyers-hits-10-year-high

According to Halifax, there were 335,750 first-time buyers in 2016, up 7.3 per cent on the year before

but still well below the pre-crisis peak of 402,800 in 2006

There is, however, a silver lining. Rock-bottom mortgage rates mean that people who can get onto the housing ladder are losing less of their disposable income servicing the debt. First-time buyers spent 32 per cent of their disposable incomes on mortgage payments in 2016, significantly lower than the 50 per cent they were paying in 2007.