Share of UK homes bought by first-time buyers expected to drop

Zoopla report suggests first fall in five years as Covid crisis sees lenders pull low-deposit mortgages

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The share of homes purchased by first-time buyers in the UK looks likely to drop for the first time in five years, as major banks pull low-deposit mortgages off the market in response to the Covid-19 crisis.

Forecasts released by property portal Zoopla show that, despite a surge in demand earlier this year, first-time buyers will make up around 33.9% of home purchases in the UK for 2020, down from a 10-year high of 34.9% in 2019.

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from Property | The Guardian https://ift.tt/3kTKyU8
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