First-time buyers dipped further into savings avoiding loans to secure homes in 2022 - BPFI
House prices have risen at a faster rate than mortgage values, data shows
Property prices have increased at a faster rate than mortgage values over the past two years, indicating first-time buyers opted for a more “prudential approach” to borrowing.
New data released by the Banking and Payments Federation (BPFI) has shown that there has been a “sharp rise” in residential property prices in recent years.
The mortgage market profile report added first-time buyers are using more of their savings to meet the price increases, rather than draw ...