View more on these topics

First-time buyers fall in June says Council of Mortgage Lenders

There was a fall in the number of first-time buyers in June dropping to 35, 600, according to new stats from the Council of Mortgage Lenders.

The research also shows that the FTB income multiple hit a new record at 3.37 times the average FTB income – up slightly from 3.36 times in May, and 3.22 times in June last year.

The number of loans to FTB declined to 35,600, lower than the 39,800 loans in June last year. Although this figure is up slightly on the 34,600 FTB loans in May, it is the lowest June figure since 2004 when there were just 33,600 FTBs getting on the property ladder.

The number of loans to home movers also declined in June to 66,300, from 71,100 in the same month last year.

The proportion of income FTBs use to pay mortgage interest has also increased – from 19.1 per cent in May to 19.3 per cent in June. This is up from 16.5 per cent in June last year and is the highest figure since the fourth quarter of 1991.

The majority of FTBs able to get on to the property ladder are opting for fixed-rate mortgages. In June, 90 per cent of FTBs took out a fixed-rate deal – up from 89 per cent in May and 83 per cent in June last year. This is the highest figure on record.

According to the CML, a record 76 per cent of home movers also took out fixed-rate loan in June – up from 75 per cent in May and 63 per cent in the same month last year.


Aegon life and pensions business increases 21 per cent

Aegon UK’s new life and pensions business increased by 21 per cent from £499m in the first half of 2006 to £606m in the same period this year.The life office released its interim results yesterday which showed operating earnings increased by 23 per cent from £75m to £92.6m.Aegon’s value of new business rose 48 per […]

Grandads saving cash for kids

The Scottish Investment Trust says 36 per cent of grandfathers put money aside for their grandchildren compared with 29 per cent of grandmothers.

First-time buyers could pay £1m for starter homes in 2024

First-time buyers could have to pay £1million for a starter home in 17 years time, according to new research from Stroud & Swindon.The lender has found that if house prices continue to follow the current growth trend, FTB’s would find their first home hitting the £1m mark in 2024.This high cost would be most likely […]

Pensions Dashboards around the World

Steve Webb’s latest policy paper British savers risk being left in the ‘slow lane’ unless the UK Government takes a more active role in ensuring the successful delivery of a Pensions Dashboard. The report, ‘Pensions Dashboards around the World’, coincided with a major conference that was held on Monday 16 May and brought together experts […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm