Patrick Bamford, head of international business development at Qualis Credit Risk, says low unemployment, growing incomes and the anticipation of further mortgage rate falls will have...

Interest rates automatically reduce over time when borrowers move into lower LTV bands.

The lender has cut two-year fixed rates at 90% and 95% LTV.

First-time buyers are spending upwards of £30,000 in the first three months of moving into their new home.

Nationwide has reduced rates by up to 0.30%, offering sub-4% first-time buyer rates for first time since September 2024.

Assistance paid out since 2021 totals £38.5 billion – 71% more than the previous four years.

The biggest decline is in younger first-time buyers, the Association found.

This current affordability ratio is the best it’s been in the last 10 years.

The Society says the tax changes mark a 'cliff-edge moment' for first-time buyers.

So far this year homebuyers have paid £3.3bn in property tax.