FTBs increasing market share despite troubles

A fall in the number of mortgage enquiries made in the last quarter of the year has not been accompanied by a drop in first-time buyer (FTB) numbers, fairinvestment.co.uk has said.

The firm has revealed that its analysis shows that FTBs made up 74 per cent of the mortgage enquiry market over the past three months, up from a figure of 56 per cent recorded in the first quarter of the year.

What's more, the number of 100 per cent mortgage enquiries made by FTBs has also increased, the study found, with this sector making up 92 per cent of the market compared with 77 per cent in Q1.

"Britain's love affair with the property market is far from over, despite the recent dip and the gloomy forecasts for the next few years," said Fairinvestment.co.uk director James Caldwell.

"Our figures suggest that while overall there have been fewer mortgage enquires since the first quarter of 2007, first time buyers are still keen to seek out a deal and are fully prepared to opt for 100 per cent mortgages if it means getting their own home," Mr Caldwell added.

Earlier this week the New Homes Marketing Board suggested that FTBs were in fact in danger of becoming an endangered species because of affordability issues.

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