UK First-Time Homebuyers Borrow Record Amounts
Update: 2025-12-15
Description
First-time homebuyers in the UK are borrowing record amounts, with the average loan reaching £210,800 in the year leading up to September. This trend is driven by rising wages and more flexible lenders, allowing more people to purchase homes. First-time buyers now make up 20% of the UK housing market, the highest level since at least 2007. The stamp duty holiday and a buyers market have contributed to larger mortgages, with many first-time buyers skipping starter flats and going straight for houses. Experts believe home ownership is more accessible now than in the past three years due to lower borrowing costs and more available mortgage debt. The Financial Conduct Authoritys guidance has led to more flexible lending rules, allowing first-time buyers to borrow an additional £20,000 to £40,000. Mortgage rates are also easing, with two-year fixed rates now around 4.91%, the lowest since before the mini-budget in September 2022.
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