First time buyers raring to hit the housing market – with Londoners leading the way

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Nearly four in five (78%) first time buyers are confident they can get on the housing ladder within the next twelve months

  •  Nearly four in five (78%) first time buyers are confident they can get on the housing ladder within the next twelve months
  • Almost a third (29%) of Londoners are looking to buy their first home within the next year, compared to only one in ten (10%) of all UK adults
  • Men are more confident than women about buying their first home – 89% of male first time buyers say they will be able to buy their first home within the next year, compared to only 58% of women
  • 82% of all first time buyers are considering professional advice to help them secure the best mortgage deal

New research[1] from unbiased.co.uk, the ‘find an adviser’ search, found we are set to see a new wave of home buyers return to the housing market as first time buyer confidence sweeps the UK. unbiased.co.uk’s First Time Buyer Confidence Index shows nearly four in five (78%) first time buyers (FTBs) are confident they will get onto the housing ladder in the next 12 months.

While one in ten Brits (10%) are looking to buy a property within the next twelve months, Londoners are leading the way, with almost a third (29%) planning on purchasing their first home within the next year.

The data shows confidence seems to be soaring amongst male first time buyers – a whopping 89% state they are confident they’ll be able to make their first property purchase within a year. This is compared to just 58% of women.

One reason for high FTB confidence levels may be the way the current generation of FTBs are approaching the way they’ll finance their first home and how open they are to seeking advice. Four out of five (82%) of FTBs say they are already planning or would consider seeking professional financial advice to help them secure the best mortgage deal. This compares to 42% of all UK adults

unbiased.co.uk chief executive, Karen Barrett, comments: “It’s great to see such high numbers of people looking to get on the property ladder, while also planning to seek professional advice when they take the first step.

“The mortgage market has changed quite significantly from just four or five years ago. Over this period we have seen stricter lending criteria come in with the introduction of tighter affordability rules, this makes it harder for borrowers to identify the most attractive deal they could secure. This is exactly where the value of a professional, whole of market adviser comes in – they are experts in the mortgage market, know each lender and their criteria and can quickly find the right mortgage option for you, leaving you to focus on setting a moving date.”

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