FTB Bounce Back

Almost a third of total sales in October were to first time buyers according to the National Association of Estate Agents - that’s the highest proportion on record. Some 32 per cent of total sales made were to FTBs, representing a nine per cent rise from September and the highest number since records began 16 years ago in 2000 say the NAEA.

So is the tide turning? Will FTBs now have the upper hand over say BTL investors? Its perhaps quite incredible as locally, as with most areas nationally, we find prices are still rising and supply is still falling. Perhaps that’s why in other news, research from Clydesdale and Yorkshire Banks has found FTBs are still overall reliant on the Bank of Mum and Dad with up to half (49%) of first-time buyers receiving financial help from Mum and Dad to get on the property ladder!

Can it last? Well to help it seems high LTV mortgages are also on the return with NatWest being the latest to announce two new 95% mortgages! (Deja vu anyone?)