First-time buyers 'will drive property market' - The Times (subscription)

First-time buyers ‘will drive property market’ – The Times (subscription)

An online version of a British newspaper has a feature on mortgages. The feature reports that an association of mortgage companies in the UK is confident that first time buyers will be a strong force in the real estate market. Mortgages given out for rental properties have abated since implementation of a new tax in April of 2016. However, loans for first time buyers have gone up by eight per cent. A representative for one mortgage company was confident about the continued strength of the market.

Key Takeaways:

Housing market continues growth fueled by the influx of new home buyers
Demand for rental properties dwindles, but housing market demand remains strong
Lenders see continued growth in the housing market as new buyers enter the market

“First-time buyers will help to drive momentum in the housing market despite subdued activity in the buy-to-let sector, according to the Council of Mortgage Lenders.”