Copy article

Is now a good time for first-time buyers?

Journalist: Emily Mee, The Sun

ended 12. April 2025

I'm a Consumer Reporter at The Sun and we're looking to cover whether now/the near future could be a good opportunity for first-time buyers. 

Basing this on the stamp duty drop ending potentially meaning market is a bit stagnant and buyers can offer lower prices. 

Also with the falling mortgage rates we've seen over the last week and that big move from Barclays yesterday (potential for more lenders to follow suit?). 

7 responses from the Newspage community

Copy all

Copy

Editor
Ross Lacey
Director & Independent Financial Adviser at Fairview Financial Management
Yes, we feel it's a good time for first-time buyers. Fixed rates have been coming down, borrowing capacity has increased with higher income multiples being offered and we're seeing more properties sold at below the advertised listing price.

We specialise in working with first-time buyers and it's important to remember the value they bring to the table being without a chain. This can make offers from first-time buyers more appealing even where the amount is marginally lower than someone else who is in a chain.
Copy

Editor
Ben Perks
Managing Director at Orchard Financial Advisers
Current conditions are cracking for First Time Buyers.
Over the last few years, we've seen a lot of chains fall through and selling a property can take ages if there are multiple transactions involved. Many vendors are crying out for a good first time buyer to come along. So there could be deals to be done.
Interest rates are getting better and lenders are really keen to lend, mortgages are becoming friendlier with more support for low deposits to entice First Time buyers.
If you're sick of renting or living with Mum and Dad, get yourself down to your local mortgage broker to explore the options available, you could be pleasantly surprised.
Copy

Editor
Harry Goodliffe
Director at HTG Mortgages
It’s looking like a good time for first-time buyers — but don’t expect it to stick around. Rates have dropped, sellers are more willing to negotiate, and the pace of the market is slowing down, giving buyers a bit more space. But let’s be honest, some lenders are already creeping rates back up. It’s not a forever opportunity — if you're ready, now’s the moment. If you wait, you might miss it.
Copy

Editor
Mike Staton
Director at Staton Mortgages
Its a myth that theres ever a good or bad time to buy a property, you only ever find out in hindsight. If i was in a position to buy a property today as a first time buyer then i would jump at the chance to get on the property ladder, irrelevant of the current market conditions. The longer you wait the harder it gets. House price increases & inflation will slowly eat away at the srength of your deposit. With rental valuations increasing, i would rather be paying off my own mortgage instead of my landlords.
Copy

Editor
Pete Mugleston
Mortgage Advisor & Managing Director at onlinemortgageadvisor.co.uk
Now is a good time for first-time buyers, as the Stamp Duty changes might actually benefit them. With the threshold for first-time buyers now at £300,000 and the average house price around £223,000 outside of London, most people won't be affected by this. While the changes might put off buy-to-let or second-home buyers, this could free up more properties for first-time buyers, giving them a larger pick of the market. Of course, with the markets in turmoil, there's still some uncertainty. However, if the base rate is cut at the next meeting, this could be the ideal time for first-time buyers to look at the property market.
Copy

Platinum
Elliott Culley
Director at Switch Mortgage Finance
The stamp duty changes have greatly impacted first time buyers in regions of higher house prices, such as the south east and London. Its likely there will be a stagnant market in these regions of the UK over other areas, as buyers have to save up more to cover the cost of stamp duty, and prices may fall slightly as a result.
Copy

Peter Dockar
Chief Commercial Officer at Gen H (Generation Home)
Isn't it nice that first-time buyers might actually be able to catch a break in all this economic uncertainty? Yes, now could be a good time to buy. We're expecting a slight lull following the stamp duty rush, which could get first-time buyers slightly lower prices. Equally, as lenders jockey with rate cuts to make the most of the tariff issue, rates hovering around 4% or even below could seriously help with the affordability issues faced by most first-time buyers. But this spells a market that is only slightly less challenging than usual – not a golden ticket to homeownership. The right time to buy, as ever, is when you can afford it, and that's a completely personal and unique circumstance. I strongly encourage buyers and brokers to familiarise themselves with mortgage products designed to support with affordability and deposit challenges, as these can truly mean the difference between owning and renting. We offer these at Gen H, but there are a wide number available in market, too.