New research shows more first-time buyers jumping on property ladder

175,500 first-time buyers in the first half of 2018 - more than double the number in 2009

Here at ludlowthompson we are delighted to report the good news that more home buyers are taking their first steps on the property ladder.

According to a recent study by Halifax, the number of UK first-time buyers has more than doubled to 175,500 in the first six months of 2018, up from just 72,700 in the first half of 2009.

There were also 3% more first-time buyers than the 171,200 in the same period of 2017.

Prospective first-time buyers can be helped by the ‘Bank of Mum and Dad’, which in some cases can be instrumental in helping put down a deposit, and there is a huge variety of finance choices available as there are now more than 5,000 different products on offer. 82% of these are fixed rate loans, typically for 2/5 years, which despite this period of transition with the EU is a reflection of the interest rate stability we are going through.

If you are considering buying a property and want help navigating the market of mortgages, please contact Chris Lockley at Jigsaw Mortgages here.

Developing face – to –face relationships with knowledgeable, experienced local agents will help prospective buyers take the next step in purchasing a property

Stephen Ludlow, Chairman at ludlowthompson, says: “As we start looking forward to autumn, it is prime time for potential first-time buyers to think about putting a deposit down on their first home.”

“Experienced local agents, with intimate knowledge of the local market, that are committed to establishing and maintaining good communications channels, are crucial for finding a prospective buyer the right property for them.”

“There has been some uncertainty following Brexit over the impact of any deal on UK housing. London boasts the highest proportion of financial and administrative services sector roles (at 91.5% of the workforce), and Londoners record the highest average hours worked for all workers in the UK. So it’s  no surprise then that confidence in the London property market remains high*.”

"A call to action then is for potential first-time buyers to be going out and viewing some properties now, particularly as we enjoy the final few hours of daylight-saving time!”

If you are considering buying a property and want help navigating the market of mortgages, please contact Chris Lockley at Jigsaw Mortgages here.

Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:

"Brilliant service from the first phone call to the last on the purchase of my flat. Pro-active and friendly, Aamir Sharif was always ready to help and respond to enquiries."

Hez Holland on Google Reviews

“I just bought my first property through ludlowthompson (Dulwich) and I had the best experience throughout! Very pleased with them, in particular Gerard, who was the person I dealt with. He is professional, yet personal and friendly. He was very helpful from the viewings to completion. Best estate agents! Thanks for your help.”

Silvia Julian on Google Reviews

ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms . Over a three year period we are ranked as the number 1 agent in the UK on allAgents out of 15,000+ agents, with 5800+ 5* reviews, and we are linked with feefo, a global Google Partner giving the customer another place to search for independent reviews of the company and the individuals that work at ludlowthompson.

*ONS – September 2018