This insight provided by UK Finance from June 2019. The overall number of First Time Buyer in Leicester is still increasing meaning numbers are topping numbers from when they were at their highest in 2007, before the Credit Crunch.
External economic factors such as Brexit are sometimes less likely to deter first-time buyers than Home Movers in Leicester. It is also apparent that Home movers are never normally 100% certain that they ought to move.
So when you add in extra factors such as political uncertainty it’s completely natural for them to say, “Let’s just wait and see what happens”.
Things are more straightforward for first-time buyers. The hard bit is the deposit but if this is available then the choices are clear-cut, they can either:
Most of our customers often go down the more popular route of buying, the number of First Time Buyers has increased by over 130% when reviewing statistics from the past ten years.
This is because more options such as the 95% Mortgages are more available and there is also further access to Help to Buy Equity Loan Mortgages.
Over half of all homes purchased with a mortgage consist of first-time-Buyers with the remainder being Home Movers and Buy-to-Let in Leicester Investors.
The last time first-time buyers had more than 50% of market share was in 1995 when only a small number of Buy to Lets were taking place. The percentage of first-time buyers has been rising nicely for almost 20 years.
When reviewing properties in terms of value, homes in the North East of England the homes seem to hold the lowest in value. The average sits currently just shy of £140,000.
We have found that first-time buyers really value trusted advice from a Trusted Mortgage Broker. It’s not just simply about finding the cheapest deal.
We understand their appreciation of having support available whenever it is needed when in the process of buying their first home. They want straightforward advice.
What protection insurance to buy, the right amount to pay for a deposit, and many more questions.
We love helping First-Time Buyers in Leicester achieve their goals and we’d love to hear from you, feel free to contact us for a Free Mortgage Consultation to find out more.