New data from Legal & General shows what the firm calls ”a significant uptick” in first-time buyer searches in Q1 2025, compared to Q4 2024.
Total searches for first-time buyers increased by 45%, with the 18-30 and 56-65 age categories seeing significant rises of 53% and 80%, respectively. This was followed by the 51-55 year old category, which saw a 44% increase, and the 31-40 year old category with a 37% increase.
L&G says the uptick in first-time buyer searches in Q1 – which was sustained across all generational groups – may have been driven by the Stamp Duty Land Tax deadline on March 31. Buyers may have also taken advantage of the increased availability of sub-4% products to step onto the ladder.
The data comes from L&G Ignite which usesL&G’s mortgage figures, involved in nearly one in four of all mortgages in the UK and nearly one in three of all intermediated mortgages.
In terms of property values, data shows that the most searched range in Q1 was the £150,000 to £250,000 category, accounting for 39% of all searches – up from 36% in Q4 2024.
Meanwhile, the most searched Loan-to-Value (LTV) category for first-time buyers was the 91-95% range, making up 34% of total searches. However, over the same time frame, L&G also recorded a 43% increase in the number of first-time buyers searching for 51-55% LTV mortgages.
It says this may reflect an improvement in overall affordability, meaning the average borrower will be less over-leveraged in Q1 2025 than the average borrower in Q4 2024.
| Age Group | Searches % change Q4 2024 versus Q1 2025 |
| 00%-50% | 41% |
| 51%-55% | 43% |
| 56%-60% | 34% |
| 61%-65% | 38% |
| 66%-70% | 29% |
| 71%-75% | 35% |
| 76%-80% | 35% |
| 81%-85% | 36% |
| 86%-90% | 47% |
| 91%-95% | 48% |
| 96%-100% | 63% |
A spokesperson for L&G mortgage services says:“A strong start to the year for first-time buyers is more than encouraging – it’s a positive sign of the market’s health as we head into spring, a traditionally busy period for property sales and new listings. Lower mortgage rates have been a feature of the first quarter of the year, with several major lenders now offering products at rates below 4%. Although the artificial stimulus of the lower stamp duty threshold is now over, the outlook is positive It’s great to see first-time buyers in a position where they can really engage with the market.”