First-time buyers are looking to splash out more when trying to find a mortgage, according to new research.
The price of mortgages sought by first-time buyers is rising at a higher rate than the property market, new figures from AWD Moneyextra reveal.
In August, the average property price considered by first-time buyers trying to find a mortgage was £174,782, which is an 11.6 per cent increase on the same month last year.
The figure also represents an increase of 36.4 per cent from August 2004, which the company claims is "massive".
This compares to a fall of value by £1,418 for the average property sought by borrowers looking to find a mortgage between July and August, which represents a rise of 2.08 per cent on the same month last year and 6.65 per cent from 2004.
However, the average mortgage comparison conducted by AWD Moneyextra was up by 20.26 per cent from August 2004.
The Council of Mortgage Lenders recently revealed that first-time buyers are paying a higher level of interest on their mortgages as a percentage of their income, at 16.7 per cent.
First-time buyers face big squeeze, study shows
Mortgage Quote Line
0845 108 0505
First-time buyers face big squeeze, study shows
Thu, 21 Sep 2006
Recommended links
Guide for first time buyersGet a first time buyer mortgage quote - free
Top 5 Tips for first-time buyers
Mortgage affordability harder for first-time buyers, expert claims
First-time buyers opt for shared mortgage, study shows
First-time buyers the lifeblood of mortgage industry, expert claims
UK Mortgage Lenders
Mortgage Interest Rates
Mortgage Information
Newcastle sets out to help first-time buyers
Change in first-time buyers attributed to new mortgage products
New tracker deal for first-time buyers
Fewer first-time buyers opt for interest-only mortgages, study shows
First-time buyers already burdened by debt, suggests report
Competition on increase for first-time buyers
HSBC creates advice centre for first-time buyers
Fifty-year mortgages could become a reality for first-time buyers
Return of the first-time buyers, state experts
Many first-time buyers can't find a mortgage, study shows
First-time buyers consider abstaining from alcohol, mortgage lender reports
First-time buyers urged to be aware of mortgage market
Improved mortgage and loan deal for first-time buyers
Affordability to remain poor for first-time buyers
50-year mortgages for first-time buyers
First-time buyers need help, says mortgage lender
First-time buyers stuck until Olympics, says CIS
Long-haul mortgage deposit for first-time buyers
Fixed mortgages better for first-time buyers, expert says
Scottish Widows aims to help first-time buyers
First-time buyers warned over insurance
Buy-to-let mortgage market not deterring first-time buyers, says expert
First-time buyers still paying stamp duty
First-time buyers increasingly rely on parents' money
Inflation for first-time buyers rising, study shows
Fixed-rate mortgages attract first-time buyers
First-time buyers opt for shared mortgage, study shows
Potential first-time buyers caught in a trap
More first-time buyers paying stamp duty, figures show
New Britannia mortgage for first-time buyers
First-time buyers may head overseas to fund mortgage aspirations
Mortgages for first-time buyers falling
First-time buyers struggle with higher lending charges, says mortgage provider
First-time buyers need greater flexibility, says CML
Mortgage affordability harder for first-time buyers, expert claims
Half of first-time buyers can't find a mortgage, study shows
Liberate first-time buyers from stamp duty, mortgage lender says
Go for 95%, first-time buyers told
Harder for first-time buyers to find a mortgage in 2007, expert claims
Data indicates 85% of first-time buyers choose fixed-rate mortgages
First-time buyers must be helped in NI, experts say
First-time buyers taking mortgages later
Yorkshire a hotspot for first-time buyers, study shows
First-time buyers' struggles highlighted
100 per cent mortgages for student first-time buyers
First-time buyers see mortgages more important than marriage, suggests research
Potential first-time buyers struggling, mortgage lender finds
First-time buyers making comeback
First-time buyers get advice from mortgage lender
Expense of first-time buyers Government-backed mortgages in question
Innovation to help first-time buyers, expert claims
First-time buyers get parental help, figures show
First-time buyers still struggling, survey says
More discussion of fifty-year mortgages for first-time buyers
First-time buyers the lifeblood of mortgage industry, expert claims
New mortgage options to help first-time buyers, expert states
Britannia mortgage for first-time buyers
First-time buyers could have a happy 2006
Income multiples good news for first-time buyers, expert claims
New Abbey website for first-time buyers
50 year mortgages and first-time buyers
First-time buyers turning to houseboats
First-time buyers need £35k deposit, study shows
First-time buyers face price inflation, study shows
First-time buyers seem to shun advice
Forces first-time buyers to receive boost
First-time buyers and 50-year mortgages
Home information packs may benefit first-time buyers, experts suggest
HomeBuy scheme to help first-time buyers, states NHF
First-time buyers six months from disaster, expert claims
First-time buyers forced to gazunder, expert claims
Mortgage group warning for first-time buyers
New CML NI director plans to aid first-time buyers
First-time buyers could benefit from interest-only, says mortgage analyst
Parental help needed to become first-time buyers, CML survey shows
Scottish first-time buyers forced out of cities, says expert
First-time buyers expect help from parents, study shows
Tough situation for first-time buyers, study shows
First-time buyers should build savings
The changing faces of first-time buyers
First-time buyers know little about the property market, suggests research
100 per cent mortgages gaining popularity amongst first-time buyers
Stamp duty a hindrance for first-time buyers, expert claims
First-time buyers adapt lifestyle to afford mortgage
Cut lending charges to help first-time buyers urges building society
Politicians aim to win over first-time buyers
Mortgage preferences of first-time buyers revealed
Cheaper fixed-rate mortgages for first-time buyers
First-time buyers want trendy flats, expert says
Further difficulties for first-time buyers, expert predicts
HLC mortgage charges an added concern for first-time buyers
First-time buyers take on second jobs
First-time buyers to struggle in 2007, expert claims
Good year for first-time buyers predicted
First-time buyers hitting mortgage desperation point
First-time buyers 'missing best offers'
Taskforce launched to help first-time buyers
Abbey relaunches mortgages for first-time buyers
First-time buyers still have debt, study shows
Halifax offers hints for first-time buyers
First-time buyers struggling with saving money, review finds
Mortgage choices for first-time buyers in UK market
First-time buyers' wages sapped by mortgages
First-time buyers facing higher costs, study shows
Foreign mortgages attractive to first-time buyers, expert claims
Fixed-rate mortgage launched for first-time buyers
| mortgages news |
|---|
| Brown says govt will help to pay mortgages - Thu, 04 Dec 2008 |
| Mortgage lenders fail to pass on rate cut, research finds - Thu, 04 Dec 2008 |
| Interest-only mortgages less popular, figures show - Thu, 04 Dec 2008 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage