Financial Times - First-time buyers load up on mortgage debt after change in lending rules

The number of first-time buyers borrowing more than 4.5 times their income to purchase a home jumped by two-thirds in 2025, revealing the strong response to a loosening of lending rules last year.  Following concerns over risky lending in the wake of the financial crisis, in 2014 the Financial Policy Committee of the Bank of England barred lenders from handing out more than 15 per cent of new mortgages at or above 4.5 times income. 

Aaron Strutt, product director at broker Trinity Financial, said: “For many first-time buyers the thought of borrowing up to 6.5 times salary is not that appealing, but they will do it if it means they can get on the property ladder. Policies like this mean many first-time buyers will be less reliant on the Bank of Mum and Dad.” 

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