First time buyer mortgages and remortgages up

Figures released by UK Finance show that first time buyer mortgage and remortgages are up on last year.

First time buyer mortgages

There were 30,720 first time buyer mortgages completed in May 2019 which is a 0.5 per cent increase on the same time in 2018.

The average age of the first time borrower was 32 years old. The average loan size was £166,977.

Remortgages

There were 21,370 remortgages which completed in May 2019. This was a whopping 19.8 per cent increase on the same month in 2018.

The average additional amount borrowed was £52,000.

Those remortgages that completed without additional borrowing were also up 19.7 per cent on last year. The number completed totalled 19,650.

Are you ready to sort your mortgage?

If you are a first time buyer or are looking to remortgage then why not speak to our brokers today? We’ll compare the whole of the market to find one of the best mortgage products for you.

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