The first quarter of 2015 has seen first time buyer levels drop to just over 60,000, from just under 80,000 in the last quarter of 2014.

As it is the lowest quarterly reduction since back in 2013, it is felt that increased affordability regulation, property prices and availability of properties are the main reasons first time buyers appear to be having difficulty getting onto the property ladder.

The Director of Your Move, Adrian Gill, commented:

“Cheaper mortgages and a steadier property market should be boosting first-time buyers. Yet for many thousands of would-be new buyers there is still a very real difficulty in matching their personal finances to a home they can afford.”

He added that the last two years have seen little change in the volume of first time buyers, as there is a definite lack of new properties available on the market. With prices rising at a faster rate than wages, buying that first property will need continued support, from schemes such as the Help to Buy scheme in the short term.

Having chosen to work in the industry as a mortgage advisor, you will need to undertake the required study to complete your CeMAP training and obtain a pass in the final exam. You will then be able to interview customers, and – whilst operating in line with the regulation set by the Financial Conduct Authority (FCA), and complying with your employer’s processes and procedures – assess affordability to recommend the most suitable mortgage solution.

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