People joining the property ladder accounted for 29.6 per cent of all mortgage lending in the final quarter of 2024, according to data published by the Bank of England on Tuesday. It is up 1.9 percentage points from the same period in 2023 and the highest proportion since data collection began in 2007.
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Share of UK lending to first-time buyers reaches record high
“Now buying is cheaper [than renting] across the UK, this is supporting first-time buyer demand,”said Richard Donnell, executive director at property consultancy Houseful.
