First-time buyers fell in June…

People looking at house for sale ads at an estate agency

New figures from UK Finance show that the number of first-time house buyers fell in June by 1.5%, compared to the same month in 2018.

In June, 32,760 first-time buyer mortgages were completed in June, and 31,000 home mover mortgages were handed out – a 3.6% decrease like-for-like.

As for buy-to-let purchase mortgages, there were 5,300 fewer completed in June, a 3.6% decrease from the same period in the previous year.

However, the stats showed that more people were borrowing additional funds in order to renovate their homes, as the number of remortgages with additional borrowing rose 8.3% year-on-year.