Why is the number of first-time buyers rising?

20th March 2018

Things are looking up for those wishing to get on the property ladder. In 2017 more first-time buyers took out mortgages than any year since the financial crisis. 

The number of UK first-time buyers is at the highest it has been for 10 years. In January, the number of buyers entering the market rose by 16.4%. But why is this?

In the Autumn 2017 budget, Stamp Duty was immediately abolished for first-time buyers. That’s a saving of up to £5,000, which is definitely an appealing change for people wanting to buy.

Government schemes like Help to Buy allow you to buy as little as 25% of a home and pay rent on the rest. The deposit is much lower, and you can buy bigger shares of the property as and when you can afford to.

Help to Buy ISAs see the government boost your savings by 25% and more. Simply open the ISA, and for every £200 you save, you’ll get a bonus of £50. 

Help to Buy Equity Loans from the government see first time buyers lent 20% of the cost of a newly built home. This means a cash deposit of just 5%, and a 75% mortgage to make up the rest.

As well as understanding and awareness of these schemes, mortgage approvals are rising. For debut homeowners, approvals lifted from 53% in 2016 to 74% in 2017. As access to finance improves, the rates in first-time buyers rise. Property expert David Maslen said:

“First time buyers are very important to the market - crucial in fact. Without them, sellers can’t move on, meaning the property market comes to a grinding halt. It’s all a chain reaction.”

Are you thinking about buying your first property in Brighton & Hove? It’s important you work with someone who will make the process smooth for you. Maslen Estate Agents offer everything from independent financial advice to regular contact to reassure you throughout the buying process. If you would like help, read our checklist for first-time buyers or get in touch today.

Testimonials

  • Very impressed with the efficient and friendly service, the staff were a pleasure to deal with. 

    Mr & Mrs Gill Lewes Road

  • A very positive experience - I had most contact with the Fiveways office and they were so friendly and helpful.

    Ms A King Balfour Road

  • Fantastic service. By far the best agents we have ever used, I cannot recommend you highly enough.

    Mr Field Mafeking Road

  • Thank you Maslens, you were all excellent!

    Miss Jasper Taunton Road

  • A very committed team who made the sale process very easy.

    Ms Rees Ticehurst Road

  • Superb service as usual, I would always recommend you.

    Ms S Hike Blackthorn Close

  • Sharon and her team could not have done more in what was a difficult sale. 

    Ms Daly Woodingdean

  • Very impressive - professional and friendly, both Martin Timms and Paula Carter were excellent at keeping in contact with sensible advice based on...

    Mrs O'Connor Hove

  • A really good experience.

    Mr Tibble Lewes Road

  • The Woodingdean team were very friendly and approachable.

    Mrs Palmer Pitt Gardens

  • Very pleased with the service. Many thanks to Sharon and the boys!

    Mr Flynn Woodingdean

  • A good team at Woodingdean helped us through a stressful time.

    Mr & Mrs Penton Sycamore Close

  • Our local office manager, Sharon Wareham was warm and friendly and kept us up to date at all times.

    Mr Hope The Brow

  • Paul was absolutely brilliant. 

    Mrs Tasker Fiveways

  • Paula was fabulous and we felt really informed and supported. 

    Mr & Mrs Walker Lewes Road

  • Very pleased with the experience. I would definitely recommend you and use you again.

    Ms D Edmonds Horton Road

  • Graham Griffin provided us, and continues to provide us, will all-round excellent advice. We trust his knowledge and expertise.

    Mr Blackmore & Ms O'Sullivan Financial Services

  • First class service. Friendly and professional.

    Mr Thorne The Avenue

  • Very professional service. Thank you!

    Miss New & Mr Jackson Buller Road

  • Great service, always polite and friendly. Excellent contact and info all the way.

    Mr Wells Bishops Road

  • Sold within 2 weeks for asking price "excellent!"

    Mr Grundy Bishops Road

  • Outstanding service from Sharon. James is an asset to Maslens & Harvey was so helpful and polite.

    Ms Cianchetta Selhurst Road

  • All the staff I dealt with were excellent. Sharon worked really hard to complete the sale.

    Mrs Bent Falmer Gardens

  • Very impressed with all dealings with Maslen. Paula Carter was in particular very knowledgeable and helpful. 

    Mr McBlane Hove

  • Ben and Paula were calm and reassuring throughout a very difficult process!

    Ms Easterbrook Bear Road

  • We were very pleased with services provided by the Fiveways office.

    Mr & Mrs Sawyer Shaftesbury Road

  • Ben was particularly enthusiastic and helpful. Martin, Paula, Sam and Will are all hard workers.

    Ms Goodey Franklin Road

  • I have bought and sold 7 properties, and this was the best experience of an estate agents services I have found.

    Mrs Shepherd Hertford Road

  • Cannot express our appreciation enough of all the efforts made by the Woodingdean team - they were fantastic.

    Mr John Mogridge Woodingdean

  • I was new to the area and viewed a lot of properties with a lot of different agents. Maslens were by far the best I came in contact with, so when i...

    Mr & Mrs Heer Lewes Road

  • Hugely impressed with Ben & his team.

    Mrs Mead Upper Lewes Road

  • The sale was dealt with swiftly, professionally and successfully. Thank you Maslen!

    Mrs Lincoln Hove

  • Very pleased with the excellent service throughout. Professional, friendly, efficient and no hard sell. Achieved above asking price. Thank you!

    Mr Witten Lewes Road

  • I found the service to be courteous, friendly and efficient.

    Mr Upton Buller Road

  • Please thank Paula at Lewes Road - Excellent service. 

    Mr & Mrs Nuthall Lewes Road

  • Brilliant. Well done to Sharon and the Woodingdean team.

    Ms Curtis The Ridgway

  • A completely painless experience from start to finish. Thank you.

    Mr Woolven & Mrs Bessant-Woolven Lewes Road

  • Sharon was excellent, she kept us informed at all stages and was a really calming objective influence in the process.

    Ms Frederick Channel View Road

  • All very professional, kept updated throughout. Very pleased - Would recommend. 

    Mrs Hammond Hove

  • Sharon, Harvey and James were all excellent - very professional. Totally opposite to what I have experienced with other agents. Maslen have restore...

    Ms Lyons Woodingdean

  • Thanks David, all very professional.

    Mrs Flowers Foxdown Road

  • Thanks for an excellent service. 

    Mr King Hove

  • I wish we had used you to sell our property! Nice to meet honest people, who are genuinely interested in helping. Very pleased.

    Mrs Porter Taunton Road

  • Very, very happy we chose you, felt right from the start! Thank you!

    Miss Blackadder Coniston Court, Holland Road

  • Already recommended you! Thank you.

    Mr Edwards The Ridgway

  • Paula was absolutely amazing!

    Mr & Mrs MacKay Lewes Road

  • Paula is amazing!

    Ms Aspnall Gladstone Place

  • You were amazingly helpful throughout - a real pillar of strength with a very difficult sale.

    Mrs Parkin Fiveways

  • Thank you for everything!

    Ms Tucker Willow Close

  • Excellent service as always

    Mr Field Ringmer Road

  • Paul Wilkinson was extremely helpful and efficient. The only problem was the vendors solicitor and Paul warned me of this. A good transaction all r...

    Mr Lavender Fiveways

  • From start to finish the sale was dealt with in a thoroughly professional manner.  

    Mr Gibbs Lewes Road

  • It was a long, drawn out process that the people at Maslen helped me through, without the impression that it was a chore. So extremely professional...

    Mr McLagan Lewes Road

  • Very good service and communication. Paula was excellent.

    Mr & Mrs Scarboro 1 Pevensey Road

  • Compared to your rivals, your service was excellent

    Ms McGrigor Milner Road

  • Very happy with the service we got from you guys, everyone we dealt with was extremely friendly, professional and helpful. Thanks!

    Mr Brown Titian Road

  • All agents at Maslen were extremely helpful and polite from the beginning to the completion of sale. 

    Mr Johnson Fiveways

  • The whole team were excellent, each one of them felt like family. Sharon had a lot of sorting to do at times but coped very well, a true profession...

    Mr Vernon Woodingdean

  • As always, an excellent service. 

    Mr & Mrs Field Lewes Road

  • Very impressed with the service. Sharon Wareham works tirelessly, very professionally and is always there for advice. 

    Miss Matthews Kipling Avenue

  • Service exceeded my expectations overall at all stages of the process - I wouldn't hesitate to recommend you. Thanks. 

    Ms Greene Lewes Road

  • Many thanks to Nick. It was an easy process thanks to you! I'm extremely satisfied with how the sale went, great job.

    Ms Mayanobe Aymer Road

  • Extremely efficient. Nick and Paula are excellent. The weekly phone calls were much appreciated. 

    Ms Gray Lewes Road

  • Very comprehensive and professional. Nice people to work with and highly recommended. 

    Mr Alderton Ladysmith Road

  • Good team. Straightforward. No nonsense.

    Mr Standing Newmarket Road

  • Maslens as a whole were really friendly and professional. I have to thank and congratulate Paula Carter for being superb at her job and exceeding m...

    Ms Warren Hove

  • Exceptional service throughout the process - should we decide to sell in the future we wouldn't hesitate to use your agency. You're a cut above the...

    Ms Windels & Mr Barham Fiveways

  • Excellent Service from start to finish.

    Mr T Mole Cromwell Road

  • Excellent service from the Lewes Road branch. Martin Timms secured a quick sale & at a good price & Paula Carter worked really hard to secure...

    Ms Schulte Bear Road

  • Thank you. We found all the staff knowledgeable and really pleasant to deal with. 

    Ms Ansloos Lewes Road

  • Excellent customer service throughout. I will definitely recommend you, and use you again. Thank you.

    Ms Longley Kingsbury Street

  • First class service from a first class team.

    Mr & Mrs English The Ridgway

  • Sharon was excellent - kept us well informed, thank you so much!

    Ms Waters Cowley Drive

  • In February 2016 I was looking to buy and sell very rapidly. Competition among buyers at the time was very high. Sharon @ the Woodingdean branch sh...

    Ms Helen Lyons Woodingdean

  • We were very impressed with the Nick from start to finish. 

    Mr & Mrs Smith Lewes Road

  • Harvey was helpful and easily reachable at the beginning of the process and Sharon kept us informed and was always happy to help.

    Ms Murch & Ms Mapa Ticehurst Road

  • Thank you Paul and Archie, you gave an excellent service, as well as Kelly. I look forward to working with you again. 

    Mr White Fiveways

  • The whole team were very committed from start to finish.

    Mr Pilgrim Lewes Road

  • Very helpful and patient team.

    Mrs Shea Selborne Place

  • Best Estate Agents ever experienced - professional, approachable, competent and exemplary. 

    Mr & Mrs Guest Riley Road

  • Paula's role was brilliant. Having someone office based and available was so appreciated and her promptness an impressive service - every Estate Agent...

    Ms Wynn-Jones Baxter Street

  • The staff were very helpful, an excellent service. I would recommend you to others.

    Miss Hockly Fiveways

  • Best Agents in Brighton.

    Mrs Field Tarner Road

  • The team worked very hard over a long period to ensure my sale went through - excellent service!

    Mr Patrick Gladstone Terrace

  • Quality advice about when and how to sell, which was spot on. Thank you.

    Miss Coleman Buller Road

  • I would recommend Maslen to anyone. 

    Mrs Tripp Woodingdean

  • Nick and Paula are total stars! They were incredibly supportive and present throughout. Thank you!

    Miss O'Haire Hove

  • Excellent communication and advice throughout. It felt very reassuring to be in good hands.

    Mrs Brooker Buller Road

  • It was an amazing experience, everyone involved were fantastic. 

    Mr & Mrs Knight Woodingdean

  • Very thorough & very informative.

    Mr Michnowicz Waldegrave Road

  • Sharon was amazing! She kept us up to date the whole way through the process. We cannot fault Sharon or the rest of her team. 

    Mr & Mrs Ashley Woodingdean

  • We were delighted with the service received from all the staff with whom we had contact,

    Dr Crichton The Ridgway

  • An efficient, professional and friendly service. Helpful and a pleasure to do business with.

    Mr Beddington Brading Road

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