No sign of MMR impact on rising first-time buyer mortgages

POSTED: 2nd September 2014
IN: Newsroom

Commenting on the regional mortgage figures released by the CML today, Charles Haresnape, Managing Director, Mortgages & Commercial Lending at Aldermore says:

"Today’s data shows the significant and positive impact that Help to Buy has had on the number of first-time buyers entering the housing market in Wales, Scotland and London, with first-time buyer loans up almost a third across all three regions.

“This growing number of first-time buyers can only be a good thing for the housing market, and given that FTB’s generally have lower deposits and lower incomes than home-movers, these affordability constraints will help to slow rising house prices. 

“It is interesting that the Mortgage Market Review which came into effect in April does not seem to have impacted upon first-time buyer volumes which is good news. While there were concerns raised by some at the time MMR was introduced that it would significantly reduce the chances of first-time buyers getting on the property ladder, these fears do not appear to have been realised." 


For further information, journalists can contact:

Nicola York, Cicero Group
Phone:                       020 7297 5965

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