First-time buyer numbers were up by 23% in the first half of this year compared to the same period in 2024, reports Leeds Building Society, hitting a record-breaking high of 9,600.

Driven by the looming Stamp Duty rise, March was the standout month, with another record of 2,700 first-time buyer completions.

Annette Barnes (pictured), its Interim Chief Executive Office says: “In the first half of 2025, we grew our membership to over one million; a significant milestone that reflects continued confidence in our mutual model.

We’ve remained focused on our purpose of putting homeownership within reach of more people, generation after generation, by helping 9,600 people realise the dream of buying their first home.”

“We’ve remained focused on our purpose of putting homeownership within reach of more people, generation after generation, by helping 9,600 people realise the dream of buying their first home.

And, in a further boost to first-time buyers, in last month’s Leeds Review, the Chancellor significantly relaxed lending criteria. It means more mortgages will be available at over 4.5 times income, and some banks and building societies will offer even higher loan-to-income mortgages, creating up to 36,000 additional mortgages for FTBs. Another 10,000 could benefit from lower income thresholds on the Nationwide’s ‘Helping Hand’ mortgage.

Mortgage Guarantee scheme

At the same time, it was announced that the Government’s Mortgage Guarantee scheme, which allows those FTBs with a 5% deposit to get a mortgage, would be made permanent.

Jeremy Leaf, north London agent and former RICS chairman, says: “In our offices, the ending of the Stamp Duty concession in March clearly showed how much of a deterrent finding those upfront costs are to first purchasers in particular.

“More assistance in that regard is essential to significantly improve activity not just in the housing market but job and social mobility generally, bearing in mind its hugely positive impact on wider economic growth.”