The Year Of The FTB

The "Year of the First-Time Buyer" Has Arrived February is off to a record-breaking start. Recent data shows that first-time buyers (FTBs) now make up 34.3% of all home purchases in Great Britain, the highest share recorded for a January since 2006. In London, the surge is even more dramatic, with nearly half (48.3%) of all sales going to those buying their very first home. WHY THE SUDDEN RUSH? The 5% "Ceiling" has Cracked: For the first time since late 2022, a staggering 93% of FTBs are securing mortgage rates below 5%. Mortgage Rates: The Race to 3% The Bank of England base rate currently sits at 3.75% (following a cut in December). Lenders are currently in a "price war" to attract your business. The Forecast: Analysts expect the base rate could fall to 3.25% by the end of 2026, which might push mortgage deals even closer to the 3% mark by the summer. Sources: Connells Group February Market Brief (2026); Nationwide House Price Index (Jan 2026); Barclays Mortgage Insights; MoneyHelper UK.