First-time buyer - Revision history

Designing Buildings at 08:13, 6 January 2022

2022-01-06T08:13:19Z

← Older revision		Revision as of 08:13, 6 January 2022
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	* NewBuy.		* NewBuy.

−	= Related articles on Designing Buildings ~~Wiki~~ =	+	NB [https://www.gov.uk/government/statistics/english-housing-survey-2020-to-2021-headline-report English Housing Survey, Headline Report, 2020-21], published by the Department for Levelling Up, Housing and Communities in 2021, suggests: ‘First time buyers are defined as households that have purchased a property that is their main home in the last three years, and in which neither the HRP or partner have previously owned a property. It includes households who have purchased their property outright as well as those who are buying with the help of a mortgage or loan.’
		+
		+	= Related articles on Designing Buildings =

	* Buy-to-let mortgage.		* Buy-to-let mortgage.

Designing Buildings at 07:27, 26 February 2021

2021-02-26T07:27:13Z

← Older revision		Revision as of 07:27, 26 February 2021
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−	[[File:House-with-for-sale-sign.jpg]]	+	[[File:House-with-for-sale-sign.jpg\|link=File:House-with-for-sale-sign.jpg]]

	First-time buyer is a term normally associated with the residential property market. Very simply, describes people who are prospective purchasers of their first property, be that a flat or house.		First-time buyer is a term normally associated with the residential property market. Very simply, describes people who are prospective purchasers of their first property, be that a flat or house.
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	* What is a mortgage?		* What is a mortgage?

−	[[Category:Public_procedures]] [[Category:Roles_/_services]]	+	[[Category:DCN_Definition]] [[Category:DCN_Guidance]] [[Category:Definitions]] [[Category:Public_procedures]] [[Category:Roles_/_services]]

Designing Buildings at 15:38, 27 September 2019

2019-09-27T15:38:58Z

← Older revision		Revision as of 15:38, 27 September 2019
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		+	[[File:House-with-for-sale-sign.jpg]]
		+
	First-time buyer is a term normally associated with the residential property market. Very simply, describes people who are prospective purchasers of their first property, be that a flat or house.		First-time buyer is a term normally associated with the residential property market. Very simply, describes people who are prospective purchasers of their first property, be that a flat or house.

Designing Buildings at 15:38, 27 September 2019

2019-09-27T15:38:02Z

← Older revision		Revision as of 15:38, 27 September 2019
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−	First-time buyer is a term ~~that is~~ normally associated with the residential property market. Very simply, ~~it is applied to~~ people who are ~~in the process~~ of ~~buying~~ their first property, be that a flat or house ~~– hoping they will get on the property ladder~~.	+	First-time buyer is a term normally associated with the residential property market. Very simply, describes people who are prospective purchasers of their first property, be that a flat or house.

−	Most, but certainly not all, first-time buyers are young people who have recently started their working life and are keen to get on the housing ladder. ~~Many usually find this~~ a ~~trying~~ process, given the problems associated with saving for a mortgage deposit, their limited funds and their potentially unestablished credit status. This is particularly so given the housing shortage and ~~rocketing~~ house prices ~~that have been seen since 2000~~.	+	Most, but certainly not all, first-time buyers are young people who have recently started their working life and are keen to get on the housing ladder. This can be a difficult process, given the problems associated with saving for a mortgage deposit, their limited funds and their potentially unestablished credit status. This is particularly so given the housing shortage and long term increase in house prices.

−	~~Another consequence of the housing shortage is that people~~ are having to work longer to be able to save for a mortgage deposit. In 1960, the average age of a first-time buyer was 23, and they needed to save for two years to have £595 (around £12,738 today) available for a mortgage deposit.	+	People are generally having to work longer to be able to save for a mortgage deposit. In 1960, the average age of a first-time buyer was 23, and they needed to save for two years to have £595 (around £12,738 today) available for a mortgage deposit.

−	In 2019, ~~things are much tougher:~~ the average first-time buyer will be 30 or older and they will typically have to save for more than five years to have their required average mortgage deposit of £20,622.	+	In 2019, the average first-time buyer will be 30 or older and they will typically have to save for more than five years to have their required average mortgage deposit of £20,622.

−	Recent years have seen the introduction of various government and private-sector initiatives designed to ~~enable~~ first-time buyers to get onto the housing ladder. These include:	+	Recent years have seen the introduction of various government and private-sector initiatives designed to help first-time buyers get onto the housing ladder. These include:

−	* Help-to-Buy schemes	+	* Help-to-Buy schemes.
−	* Equity loans	+	* Equity loans.
−	* Mortgage guarantees	+	* Mortgage guarantees.
−	* Shared ownership	+	* Shared ownership.
	* NewBuy.		* NewBuy.

Editor at 23:52, 25 September 2019

2019-09-25T23:52:16Z

← Older revision		Revision as of 23:52, 25 September 2019
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	In 2019, things are much tougher: the average first-time buyer will be 30 or older and they will typically have to save for more than five years to have their required average mortgage deposit of £20,622.		In 2019, things are much tougher: the average first-time buyer will be 30 or older and they will typically have to save for more than five years to have their required average mortgage deposit of £20,622.
		+
		+	Recent years have seen the introduction of various government and private-sector initiatives designed to enable first-time buyers to get onto the housing ladder. These include:
		+
		+	* Help-to-Buy schemes
		+	* Equity loans
		+	* Mortgage guarantees
		+	* Shared ownership
		+	* NewBuy.

	= Related articles on Designing Buildings Wiki =		= Related articles on Designing Buildings Wiki =

		+	* Buy-to-let mortgage.
	* Help to buy.		* Help to buy.
	* Home ownership.		* Home ownership.
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	* Rent to buy.		* Rent to buy.
	* Resident.		* Resident.
		+	* Right to buy
		+	* Right to rent
	* Self build.		* Self build.
	* Self build initiative.		* Self build initiative.
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	* Shared ownership.		* Shared ownership.
	* The rise of multiple property ownership in Britain.		* The rise of multiple property ownership in Britain.
		+	* What is a mortgage?

	[[Category:Public_procedures]] [[Category:Roles_/_services]]		[[Category:Public_procedures]] [[Category:Roles_/_services]]

Editor: Created page with "First-time buyer is a term that is normally associated with the residential property market. Very simply, it is applied to people who are in the process of buying their first pro..."

2019-09-25T23:43:39Z

Created page with "First-time buyer is a term that is normally associated with the residential property market. Very simply, it is applied to people who are in the process of buying their first pro..."

New page

First-time buyer is a term that is normally associated with the residential property market. Very simply, it is applied to people who are in the process of buying their first property, be that a flat or house – hoping they will get on the property ladder.

Most, but certainly not all, first-time buyers are young people who have recently started their working life and are keen to get on the housing ladder. Many usually find this a trying process, given the problems associated with saving for a mortgage deposit, their limited funds and their potentially unestablished credit status. This is particularly so given the housing shortage and rocketing house prices that have been seen since 2000.

Another consequence of the housing shortage is that people are having to work longer to be able to save for a mortgage deposit. In 1960, the average age of a first-time buyer was 23, and they needed to save for two years to have £595 (around £12,738 today) available for a mortgage deposit.

In 2019, things are much tougher: the average first-time buyer will be 30 or older and they will typically have to save for more than five years to have their required average mortgage deposit of £20,622.

= Related articles on Designing Buildings Wiki =

* Help to buy.
* Home ownership.
* Housing market.
* Housing shortage.
* National Planning Policy Framework.
* Owner.
* Rent to buy.
* Resident.
* Self build.
* Self build initiative.
* Shared equity / Partnership mortgage.
* Shared ownership.
* The rise of multiple property ownership in Britain.

[[Category:Public_procedures]] [[Category:Roles_/_services]]