Legal & General Mortgage Services has reported a 45% increase in first-time buyer (FTB) activity in Q1 2025 compared to the previous quarter.
Research revealed that searches by potential buyers aged 18 to 30 and 56 to 65 rose notably by 53% and 80% respectively, while those in the 51 to 55 category increased by 44%, and 31 to 40 by 37%.
Additionally, L&G’s Ignite platform showed that £150,000 to £250,000 was the most popular property value range, making up 39% of searches.
The most searched loan-to-value (LTV) was the 91% to 95% bracket, which accounted for 34% of total searches.
There was also a 43% rise in searches for 51% to 55% LTV mortgages.
Kevin Roberts, managing director of mortgage services at L&G, said: “A strong start to the year for first-time buyers is more than encouraging – it’s a positive sign of the market’s health as we head into spring, a traditionally busy period for property sales and new listings.
“Lower mortgage rates have been a feature of the first quarter of the year, with several major lenders now offering products at rates below 4%.
“Although the artificial stimulus of the lower stamp duty threshold is now over, the outlook is positive It’s great to see first-time buyers in a position where they can really engage with the market.”
Roberts added: “There are plenty of options out there for first-time buyers, with some major lenders cutting rates exclusively for this group.
“We know that many buyers use financial gifts from loved ones, to secure their first home, but not everyone can rely on this support.
“If you’re starting your property search, seeking advice from a professional mortgage adviser is a must.
“Their expertise can lead you to the right mortgage product, which is a huge advantage when making what is likely to be the single biggest purchase of your lifetime.”
