First-time buyers require “eye-watering” deposits to get themselves on the housing ladders, according to Barclays, as there are only a handful of 95% loan-to-value mortgages currently on the market - compared with almost 400 a year ago. The bank suggests that one way around the problem is through the Help to Buy scheme. However, Help to Buy loans are available only on newbuild houses. Because of this, "the current shortage of high [loan-to-value] mortgages is likely to drive first-time buyers to the new-build market", according to Gavin Jago, a real estate analyst at Barclays.
The Times (03/02/2021)