Number of first-time UK housebuyers heads for 10-year low
The number of UK first-time buyers getting on the housing ladder is on track to hit a 10-year low as higher mortgage rates make purchasers more reliant on the so-called Bank of Mum and Dad.The number of mortgages obtained by first-time buyers is down nearly one quarter so far this year compared with 2022, according to data from trade body UK Finance. If the trend continues through to December 31, as analysts expect, it would mark the fewest first home purchases since 2013. First-time buyers have suffered from the end of...
