First-time buyer mortgages up 11%

First-time buyer mortgages, accounts for almost half of all mortgages, new research shows.

A recent survey reveals first-time buyers made up 48 per cent of all mortgages last month, the highest level since the survey began in December 2005.

The findings follow recent news of a 26-year low in first-time buyer numbers last year.

The increase in first-time buyers goes against all normal trends and may well reflect a renewed determination to get onto the housing ladder before they are priced out.

First-time buyers should be careful with interest rises forecasted over the next year.