National valuations firm e.surv is forecasting that house purchase mortgage approvals stood at 70,511 in November, up 1.3% from October and an increase of 19% from November last year.
However, it said that first-time buyers and others with small deposits accounted for only 16.3% of house purchase approvals.
E.surv, part of LSL, said that the estimated 11,493 small-deposit loans compared with the pre-recession high in November 2007 of 16,227.
Director Richard Sexton said: “Some small-deposit borrowers are still struggling, and with house prices predicted to keep on rising, there’s a real risk many may be permanently priced out of home ownership.”
Meanwhile rival chartered surveyor Connells Survey & Valuation suggested that first-time buyers are keen to put their woes behind them.
The firm said that the total number of first-time buyer valuations it carried out last month was 31% higher than in November last year, and 2% up on a monthly basis.
Comments (4)
Come come all you negative baah humbuggers out there.
The Chancellor is doing a splendind job. He has looked at commerce, seen that first time buyers are struggling to get on the property ladder and levelled the playing fields by making sure that nobody can (or will) buy property.
He must already be a Landlord himself, why else would he put in place measures to price out first time buyers out of the rental market as well ?
Brilliant political move – If Mr Corbyn wasn’t in opposition i could see this brilliant piece of commerce being a monumental own goal.
Personally, I’m one of this struggler’s, the more I save, the higher the price gets. Bit of a circle really.
I wondered why Mr O thought the 3% extra for Landlords was a good idea as mentioned by Clarky46
My how short sighted you are Mr Osborne.
Oh and incompetent
Mr C needs to take a closer look at his cabinet, I think it’s due a shake up.
Particularly where next door is concerned.
Most people I know who own 2nd homes or active landlords are quite mature and probably the conservative party’s demographic voter.
Well done you just alienated your supporters.
I hope they don’t try and start another war by way of a distraction to their poor domestic policies !!!!!!
Yes, and kicking the @%^& out of B2L investors (+3% SDLT) will not make it easier for FTB’s to buy but it will create a shortage of rental property to live in – and probably push rents up too!