First time buyer deposits rise two thirds since October

However, first time buyers are still struggling to get onto the property ladder, with the average age of those passing through the Leadbay system rising from 29 to 31 over the same period. Deposit amounts requested by first time buyers rose 66% from £16,824 to £28,012, according to Leadbay’s figures. However, the rising age of first time buyers indicates many have to save for longer to afford their first home and the number of first time buyers has fallen by 24%. Toby Hughes, innovation development manager at Leadbay, says: “Borrowers with bigger deposits are obviously now coming to the ...