First Mortgage North East: 'First-time buyer mortgages booming amidst Brexit'

First Mortgage NE has completed its most successful quarter to date.

The first-time buyer market is said to be driving growth, while mortgages for first time buyers were up by 16 per cent year-on-year in 2018, increasing to 30 per cent in Q1 2019.

It is said to be a country-wide trend, as Brexit troubles have made it more affordable to get onto the property ladder, with the stamp duty amnesty for first-time buyers contributing.

New build mortgages are also reportedly on the up, increasing by 10 per cent year-on-year in 2018, jumping to 50 per cent at the end of this quarter compared to Q1 last year.

Phil said: “We’re helping more first time buyers and those buying a new build home than ever before. Despite Brexit looming, the market is in a good place and there is clear demand for our service which is completely fee-free to consumers.

“Our team and footprint across the region have expanded so we can support even more buyers, most recently at our Newcastle city centre branch.”

2018 was the company’s most successful year to date, primarily through first-time buyer and new build business.

In the Mosley Street area, the company’s Newcastle office has doubled in size after taking an additional floor, now spanning the ground and first floor. This has opened up three additional meeting rooms and created two job opportunities.

Phil added: “Our Newcastle branch attracts a lot of enquiries and this investment will allow for more appointments, bringing added convenience to our clients working or living in the city centre.

“We’re pleased to have welcomed a further two new recruits, taking our team of experts up to 31, based across eight locations stretching from Northumberland to York.”

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