First-time buyer mortgage

First-time buyer mortgages are designed to provide mortgages for individuals or couples to get onto the property ladder.

The ability of people to get their first mortgage has become a serious issue since the credit crunch as lenders criteria have become stricter and 100 per cent or more mortgages have become a thing of the past and the levels of deposit required has also increased dramatically.

	Leeds BS cuts rate by 0.50% on LAMS first-time buyer mortgage The Leeds Building Society has announced that it has cut the rate on its Local Authority Mortgage Scheme mortgage by 0.50 per cent to 4.99 per cent.
	CML reports first-time buyer floodgates opened in March The Council of Mortgage Lenders reports that the number of first-time buyers entering the mortgage market went up by 20 per cent in March.
	First-time buyer mortgage deposits fall below 20% The amount of deposit a first-time buyer needs to put down on a mortgage is now 19 per cent, below 20 per cent for the first time in more than three years.
	CML: First-time buyer sales highest since credit crunch in 2008 The Council of Mortgage Lenders says that first-time buyer sales are at their highest level for five years, since the financial crisis of 2008.
	First-time buyer mortgage lending up 74% in March, says CML The end of the stamp duty holiday caused mortgage lending to first-time buyers to rise by 74 per cent in March, according to the Council of Mortgage Lenders.