The numbers of first time buyers purchasing a home with a mortgage in the UK in each year since 1997 are presented as follows:
Number of first time buyers purchasing with a mortgage, UK 1997 501,500 1998 525,200 1999 592,400 2000 500,200 2001 568,200 2002 531,800 2003 369,600 2004 358,100 2005 372,300 2006 401,000 2007 357,800 2008 194,400 Source: Council of Mortgage Lenders
CML estimate that around one in five first time buyers are actually returning to owner-occupation after a break.
We are ensuring support is in place to help first-time buyers. We have:
Increased opportunities to buy a home through shared equity and shared ownership—our schemes are now open to anyone earning up to £60,000 who would not otherwise be able to afford to buy.
Now allocated £236 million to purchase nearly 6,000 unsold properties to be used as affordable and social housing.
Helped more than 110,000 households into home ownership since 1997 through our shared ownership and shared equity schemes.
Launched our £400 million HomeBuy Direct scheme, which will help up to 18,000 first time buyers across the country.