{"id":3868,"date":"2024-12-11T08:16:10","date_gmt":"2024-12-11T07:16:10","guid":{"rendered":"https:\/\/pfadvisors.co.uk\/?p=3868"},"modified":"2024-11-25T18:18:52","modified_gmt":"2024-11-25T17:18:52","slug":"fewer-young-people-securing-mortgages","status":"publish","type":"post","link":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/","title":{"rendered":"Fewer young people securing mortgages"},"content":{"rendered":"<p>A proposed new \u2018Freedom to Buy\u2019 mortgage guarantee scheme is unlikely to support prospective FTBs, according to Financial Conduct Authority (FCA) data analysed by Quilter.<\/p>\n<p>Ahead of the General Election, the Labour Party promised that its policies would \u2018support 80,000 young people to get on the housing ladder over the next five years.\u2019 [1]<\/p>\n<p>The new analysis reveals that since its launch in April 2021, the current mortgage guarantee scheme has supported only 44,368 people to get a mortgage. Of these, 86% were FTBs.<\/p>\n<p>The total number of people between the ages of 18 and 30 securing a mortgage was 350,092 in 2023, down from a spike of 401,665 in 2021. Significantly, many prospective FTBs are finding it harder to secure a mortgage, as higher rates add a major obstacle.<\/p>\n<p>If you\u2019re hoping to buy your first home and need some mortgage advice, get in touch.<\/p>\n<p>[1] FCA data analysed by Quilter, 2024<\/p>\n<p>\ud83d\udea8 Data accurate as of the date of publication \u2013 11.12.2024<\/p>\n<p>\ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n<p>\ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: Quilter Financial Planning \u2013 Essentially Mortgages Q4 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A proposed new \u2018Freedom to Buy\u2019 mortgage guarantee scheme is unlikely to support prospective FTBs, according to Financial Conduct Authority (FCA) data analysed by Quilter. Ahead of the General Election, the Labour Party promised that its policies would \u2018support 80,000 young people to get on the housing ladder over the next five years.\u2019 [1] The [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3844,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[35,31],"tags":[],"class_list":["post-3868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-first-time-buyers","category-housing-market"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Fewer young people securing mortgages - Prestige Financial Advisers<\/title>\n<meta name=\"description\" content=\"A proposed new \u2018Freedom to Buy\u2019 mortgage guarantee scheme is unlikely to support prospective FTBs, according to Financial Conduct Authority\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fewer young people securing mortgages - 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Prestige Financial Advisers","description":"A proposed new \u2018Freedom to Buy\u2019 mortgage guarantee scheme is unlikely to support prospective FTBs, according to Financial Conduct Authority","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/","og_locale":"en_US","og_type":"article","og_title":"Fewer young people securing mortgages - Prestige Financial Advisers","og_description":"A proposed new \u2018Freedom to Buy\u2019 mortgage guarantee scheme is unlikely to support prospective FTBs, according to Financial Conduct Authority","og_url":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/","og_site_name":"Prestige Financial Advisers","article_published_time":"2024-12-11T07:16:10+00:00","og_image":[{"width":940,"height":788,"url":"https:\/\/pfadvisors.co.uk\/wp-content\/uploads\/2024\/11\/PFA-blog-82.jpg","type":"image\/jpeg"}],"author":"Prestige-FA","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Prestige-FA","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/#article","isPartOf":{"@id":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/"},"author":{"name":"Prestige-FA","@id":"https:\/\/pfadvisors.co.uk\/en\/#\/schema\/person\/50d699ec759d89772430606ad51a083e"},"headline":"Fewer young people securing mortgages","datePublished":"2024-12-11T07:16:10+00:00","mainEntityOfPage":{"@id":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/"},"wordCount":229,"image":{"@id":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/#primaryimage"},"thumbnailUrl":"https:\/\/pfadvisors.co.uk\/wp-content\/uploads\/2024\/11\/PFA-blog-82.jpg","articleSection":["First Time Buyers","Housing market"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/","url":"https:\/\/pfadvisors.co.uk\/en\/fewer-young-people-securing-mortgages\/","name":"Fewer young people securing mortgages - 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