First-time buyers outnumbering buy-to-let purchasers by three to one
First-time buyers outnumbering buy-to-let purchasers by three to oneBy nicematin-immo.com 0 comments
There were 311,700 mortgages issued to first-time buyers last year. While the figure was the same as 2014, the amount borrowed – £46.7bn – was the highest since 2007.
Home movers took out 365,800 loans for house purchase, down fractionally (0.2%) on 2014. Again, though, the amount, at £72.1bn, was the highest since 2007.
Buy-to-let lending rose by both volume (up by 28%) and by value (up 39%), and that too was at its highest since 2007.
Despite the rise in buy-to-let lending, last year first-time buyers outnumbered buy-to-let purchasers by three to one.
Only 41% of buy-to-let mortgages were for house purchase, a total of £15.6bn.
John Heron, managing director of Paragon Mortgages, said: “A common accusation levelled at buy-to-let landlords is that they have an unfair advantage over home-buyers.
“The data would suggest this is not the case, with buy-to-let purchases making up only 11.6% of all purchases.
“First-time buyers accounted for three times as many transactions as buy-to-let purchasers.”
The figures are from the Council of Mortgage Lenders.