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Homeowner loan availability for first time buyers rises
The number of homeowner loans available to first time buyers has risen to its highest level since May this year, research has revealed.
According to figures from Moneysupermarket.com, 1,354 mortgages products are now available to such consumers, which is an 18.3 per cent increase from the low level seen in August.
The website suggested that the statistics may be welcome relief for many, as the government plans to end its stamp duty holiday in January.
Hannah-Mercedes Skenfield, mortgages channel manager at Moneysupermarket.com, said: "It is encouraging to see an increase in lenders providing suitable options for first time buyers, as the number of products in this arena have been low for some time.
"If lenders continue to give a helping hand to first time borrowers we could see a significant improvement in the housing market."
Recent figures published by Moneyfacts.co.uk found that the number of homeowner loans available across the UK has risen from 1,209 to 1,624 over the past eight months.