A journalist at Thisismoney/Mail Online is working on a couple of first-time buyer stories today. Firstly, new Moneyfacts data shows average two- and five-year fixed rates on 5% deposit mortgages are at record lows (since it started collecting data in 2011) of 3.09% and 3.39% respectively.
Products with 10% deposits or lower now make up 20% of the mortgage market - the highest since March 2020.
- She's seeking some brief comments on why things are getting better for those with smaller deposits, and how long this situation might last.
Separately, the Treasury has released figures on its Mortgage Guarantee Scheme for the period from 19 April to the end of June. Only 812 mortgages were lent under the scheme in that time, and only 82% were to first-time buyers, who the scheme was predominantly intended to help.
- Why hasn't the scheme hasn't had a large impact?
- Where could Government policy on first-time buyers and mortgages go from here.
Deadline for both is ASAP, at the latest 14:00.