First-time buyers purchasing a home in Great Britain are securing record loans, reaching an average of £210,800.

First-time buyers of homes in Great Britain have reached a record level of mortgage loans, with an average of £210,800 during the January-September period. They accounted for 20% of total spending in the real estate market, the highest percentage since 2007. In London, first-time buyers made over half of the purchases. Mortgage lenders provided £82.8 billion for 390,000 buyers, a 30% increase compared to the previous year.

Many have taken advantage of tax reliefs, and a more relaxed approach from lenders has facilitated access to loans. The average age of buyers is 34 years, and 31% have children. Lenders have adjusted stress tests, allowing for loan increases of £20,000-40,000, making it easier to become a homeowner.