0121 550 4151Data from banking trade body UK Finance shows there were 25,100 new first-time buyer mortgages completed in January, up 4.6% annually, while home movers saw a 2.8% annual increase in completions to 25,300.
UK Finance said this suggests that the residential mortgage market has had a strong start to the year, despite ongoing economic uncertainty.
Home buyers seem to be ignoring the political uncertainty and getting on with their purchases, which is setting up 2019 to have similar levels of activity to the previous few years.
Jeremy Leaf, former RICS residential chairman, said: “The continuing trend shown in these figures of first-time buyers taking the place of investors at the vital lower-priced end of the market is very welcome and confirms what we have seen on the ground lately. “Further confirmation of resilience among home owners who are getting on with buying is also encouraging”
These figure give further strength to the belief that the Great British Public are strengthening their resolve despite the politicians and journalists trying their best to disrupt us.