First-time buyer rate soars 15%
Figures show the number of first-time buyers soared 15% in April to 22,000 as buyers take advantage of lower rates and wider choice of mortgages, according to estate agency owner LSL Property Services.
Report: Number of first-time buyers soars 15% in April
The number of first-time buyers soared to 22,000 in April as buyers take advantage of government schemes to lower the threshold of home ownership, a new report has found.
The figure is up by 2,900 - or 15% - from the previous month.
The jump in transactions coincides with the introduction of the Help to Buy scheme which allows people to buy homes with deposits of just 5% - something that had become almost unheard of.
Such schemes have led to lower rates and a wider choice of mortgages, according to estate agency owner LSL Property Services which published the report.
The Help To Buy scheme has been criticised by some for raising house prices and for emulating the American housing market which is largely underwritten by the state.
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