Nearly half of first-time buyers didn’t use ‘the bank of mum and dad’

by Aaron Strutt

Mar 05 2015

There was an increase in the ability of first-time buyers to get onto the property ladder without help raising their deposit, according to figures from the Council of Mortgage Lenders (CML).

Analysis by the CML estimated that just 34% of first-time buyers bought a property in 2011 without help in raising their deposit, but the latest figures show just under half (48%) of first-time buyers are likely to have bought without family assistance. 

Last year saw strong growth in the number of first-time buyers getting onto the market. More than 300,000 people bought their first home – the highest total since 2007. A significant factor in the increase of first-time buyers was the rise in availability of low deposit mortgages.

If you would like help to secure a mortgage, call Trinity on 020 7016 0790.