Earlier this year a report from the IMLA (The Intermediary Mortgage Lenders Association) found that over 3 in every 4 first-time buyer mortgage applications made via mortgage brokers completed in the first three months of 2018.
This tremendous success rate represents a huge increase on the 2016 figures when less than half of mortgages moved to completion. What’s more, the number of applications that actually secured a mortgage offer increased from 7 in 10 in 2016 to 9 out of 10 in the first quarter of 2018.
These figures should encourage first-time buyers looking to obtain a mortgage offer, although it is also worth noting that these figures refer to applications made through an independent intermediary, such as Mortgage Required.
We have written about the advantages associated with using a Mortgage Adviser to search for and secure a competitive mortgage offer that best suits your needs. For an initial chat feel free to contact us.
To speak to a mortgage adviser, contact us on 01628 507477 for a chat with no obligation.
Related articles:
Download our Free First Time Buyers Guide
Recent posts
A recent study by Boon Brokers where 1,000 people who had used an estate agent over the last year were surveyed, showed that a whopping 52% said they were pressured into using the estate agents’ in-house mortgage broker.
When will mortgage rates fall further?
7 days ago
Analysts are predicting further rate cuts this year, with the next one possibly coming down to 4% when the Bank of England’s Monetary Policy Committee meet on Thursday 7th August 2025.
The Financial Conduct Authority (FCA) has shared new changes to mortgage rules with the aim to simplify remortgaging, and encourage competition within the mortgage market.
Lloyds boost lending for first-time buyers
14 days ago
Lloyds Banking Group has jumped on the bandwagon to boost lending for first-time buyers as they allocate an additional £4 billion to help first-time buyers on to the property ladder.
As the Loan to Income (LTI) cap has been increased to 5.5 times income, applicants who fit the First Time Buyer Boost criteria could borrow up to 22% more.
The government is introducing mortgage reforms to boost homeownership, stimulate economic growth, and make the housing market more accessible, especially for first-time buyers.
Chancellor Rachel Reeves has announced the most significant mortgage reforms in over a decade—great news for those dreaming of homeownership.
Nationwide ease criteria for first-time buyers
17 days ago
Nationwide ease their ‘Helping Hand’ mortgage designed to help first-time buyers get onto the property ladder by allowing them to borrow up to six times their income.
Ways to save money over the summer holiday
23 days ago
Keeping the kids entertained over the six-week summer holidays isn’t always easy, especially with the cost-of-living making it even more difficult. Below is a list of fun, inexpensive ideas to do over the break
The Financial Conduct Authority (FCA) has published a discussion paper about the future of the mortgage market in a bid to improve access for first -time buyers, self-employed, and those borrowing in retirement.
More information
Trusted by
