First-time buyers dominated product searches during January

February 22, 2025 by Brendan O'Neill

Mortgage Advisors

Searches for mortgage products that are suitable for first-time buyers dominated during the first month of the year, according to the latest figures released by Twenty7tec.

Product searches of that kind rose by 91.44% compared with the final month in 2024. The figure was still 10.44% lower when looked at on an annual basis, but it was the single best month for searches relating to first-time buyer products since February of last year.

It also meant the opening month of this year was the sixth busiest Twenty7tec has ever had when it comes to first-time buyer product searches. This would suggest that the number of people entering the market to buy a first home is on the rise.

Twenty7tec issued further data that supports that interpretation. In terms of the overall search market, last month represented the tenth busiest for first-time buyer product searches. They accounted for 19.53% of the overall figure, whereas the highest ever percentage was 22.51% during April of 2021. That figure was artificially inflated by the holiday from stamp duty that was in effect at the time though.

Nathan Reilly, the director of Twenty7tec, said to Financial Reporter that:

“The year is off to a great start for first-time buyers, with mortgage searches up 91.44% on the prior month, making January the busiest month since February 2024 and the sixth-busiest month ever for first-time buyer mortgage search activity.”

Most of those who have done CeMAP mortgage advisor training will regard these figures for the start of 2025 as being a very encouraging sign.