First time buyers struggle to find mortgage deals

New figures from the Intermediary Mortgage Lenders Association reveal today the difficulty first time buyers face in securing a mortgage.

Though mortgage rates are relatively low, almost two thirds of first time buyers are completely unable to get a mortgage deal through their broker due to the high deposits required.

58% of first time house buyers were unable to find a mortgage in Q4 of last year.

Average deposits for mortgages are at their highest for 34 years, at approximately 22%.

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