Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
Even if you are pretty clued-up about the mortgage market, you might be missing a trick by going straight to your bank. We are here to help you find the best mortgage for your circumstances. Serious about service and sourcing the best possible outcome, we are people who know about mortgages, not mortgage people. Skyline Mortgage Consultants are a member of the Society Of Mortgage Professionals.
The UK’s long rise in house prices means that a large proportion of homeowners’ wealth is sunk into their property, and is therefore inaccessible. If you are over 55, equity release can be a sensible and practical way of releasing funds from your home. But it is a decision best made with professional advice, as it is a big step to take.
First-time buyer numbers have reached a 12-year high, according to the Ministry of Housing, Communities & Local Government. Data collected by the MHCLG shows that there were 35,010 FTB mortgages completed in August 2019. This represents the greatest total since the previous high set in August 2007, when 35,070 FTB mortgages were completed.
