First time buyer numbers plunge

The Mortgage Map, which looks at trends in house buying, also claims the number of homeowners on fixed rate deals is increasing. The research found the number of people classed as first time buyers has fallen by 20%, which Moneysupermarket.com says is largely due to rising house prices, high interest rates and the failing availability of suitable properties. Louise Cuming, head of mortgages at moneysupermarket.com, comments: “It looks like the attrition of first time buyers as they either move out of owner occupation or onto second time purchases is occurring at a much faster rate than ne...