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First-time buyers saw mortgage approval rates rocket last year

Mar 01, 2018 - City A.M.

THE PERCENTAGE of first-time buyers getting their mortgage applications approved via brokers shot up at the end of 2017 compared to a year earlier, according to new data.

Improved access to mortgage finance - including better product availability, low interest rates and competition between lenders - has helped to boost first-time buyers' fortunes, according to data from the Intermediary Mortgage Lenders Association.

Mortgage approvals for debut homeowners lifted from 53 per cent at t...