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First Time Buyers

Volume 464: debated on Tuesday 16 October 2007

To ask the Secretary of State for Communities and Local Government what estimate she has made of the number of first-time buyers making purchases in the housing market in England in the most recent year for which figures are available. (157639)

The number of mortgages to First Time Buyers (FTBs) in the UK is available on the Council of Mortgage Lenders (CML) website at:

http://www.cml.org.uk/cml/filegrab/2ML2.xls?ref=4624

For 2006 there were 410,800 FTBs in the UK who used a mortgage to purchase their property.

The CML estimate that around one in five of reported first time buyers were in fact returning to owner-occupation after renting for a period.