FTBs Made up Nearly 70% of Homebuyers in 2024, MAB Data Finds

Average first-time buyer is 34 and a third have children

As many as a third of first-time buyers already have children by the time they get on the property ladder, indicating a greater need for families in the private rented sector. The average age of a first-time buyer in the UK has risen to 34, according to the latest research from Mortgage Advice Bureau, with 43% having to use “additional income” to support their homeownership aspirations. The research also found that a huge 31% of first-time buyer…

FTBs made up nearly 70% of homebuyers in 2024, MAB data finds

First-time buyers accounted for 67% of property purchases last year, data from a mortgage advice firm found. The post FTBs made up nearly 70% of homebuyers in 2024, MAB data finds appeared first on Mortgage Solutions.

What’s a typical first-time buyer’s age and income?

The average age of a first-time buyer in the UK is currently 34 and their typical deposit is £24,5000 according to new analysis by Mortgage Advice Bureau (MAB). The post What’s a typical first-time buyer’s age and income? appeared first on what MORTGAGE.

67% of mortgage borrowers in 2024 were first-time buyers

Nearly 70% of mortgage customers in 2024 were first-time buyers (FTBs), according to research from Mortgage Advice Bureau (MAB).  The findings showed 67% of borrowers who bought property over the past year were first time buyers.  The rest were split between homemovers at 19% and those remortgaging at 14%. The average FTB in the UK was 34 years old, saving around £585 a month and putting down deposits of £24,500 on homes valued at £226,900.  The…

Nearly 70% of mortgage customers in 2024 were first time buyers - IFA Magazine

67% of borrowers purchasing a property over the last 12 months were first time buyers, according to data from Mortgage Advice Bureau (MAB)’s MyMAB and Homebuying apps. The findings underscore the critical role that first time buyers play in the UK housing market, with the remaining percentage of borrowers split across homemovers (19%) and those remortgaging their current property (14%). On average, a first time buyer in the UK is 34 years old, w…