Five questions answered on the rise in first time buyers

How big is it and what does it mean?

There has been a big boost in the number of mortgages taken out by first time buyers, according to the Council of Mortgage Lenders (CML). We answer five questions on the rise.

How many more first time buyers are there?

According to the CML, the number of mortgages taken out by first time buyers has risen by 42per cent in a year.

What has caused this surge in first time buying? 

Mortgage brokers say it is proof that banks are lending again to first time buyers following government attempts to support the housing market.

Government schemes such as Funding for Lending, which offered £80 billion to banks to boost mortgage and business lending, have increased high loan-to-value lending.

The Help to Buy scheme launched in the March Budget, which is designed to help borrowers with small budgets, has also bolstered loans.

How many first time mortgages were actually approved this year compared to last?

In May, 25,100 first time buyer loans were approved, a rise of 29 per cent from April, and 42 per cent higher than May last year.

At its lowest figure just 8,500 loans were issued to first time buyers in January 2009.

A separate survey released today by e.surv reveals that June showed a total of 7,046 loans were approved to borrowers with deposits of 15 per cent or less – up from 4,790 loans at this level in June.

Total lending to home-buyers was up 23 per cent year-on-year, e.surv found. 

What are people saying?

Richard Sexton, director of e.surv, told The Telegraph: “Last year the lending market was thorny for first-time buyers. But over the last year, lenders have softened the process for them to get a house purchase loan.

“Buoyed by Funding for Lending [the Government scheme], and having had enough time to adjust to regulatory requirements and balance sheet restructurings, banks are more prepared to lend at these levels.”

What next – will the figure continue to rise?

Possibly. The Bank of England’s Credit Condition Survey suggests lenders are planning to increase their lending levels to buyers with a 10 per cent deposit in the third quarter of the year.

Messrs Cameron and Clegg accompany a first time buyer around her new neighbourhood. Photograph: Getty Images.

Heidi Vella is a features writer for Nridigital.com

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The most terrifying thing about Donald Trump's speech? What he didn't say

No politician uses official speeches to put across their most controversial ideas. But Donald Trump's are not hard to find. 

As Donald Trump took the podium on a cold Washington day to deliver his inauguration speech, the world held its breath. Viewers hunched over televisions or internet streaming services watched Trump mouth “thank you” to the camera, no doubt wondering how he could possibly live up to his deranged late-night Twitter persona. In newsrooms across America, reporters unsure when they might next get access to a president who seems to delight in denying them the right to ask questions got ready to parse his words for any clue as to what was to come. Some, deciding they couldn’t bear to watch, studiously busied themselves with other things.

But when the moment came, Trump’s speech was uncharacteristically professional – at least compared to his previous performances. The fractured, repetitive grammar that marks many of his off-the-cuff statements was missing, and so, too, were most of his most controversial policy ideas.

Trump told the crowd that his presidency would “determine the course of America, and the world, for many, many years to come” before expressing his gratefulness to President Barack Obama and Michelle Obama for their “gracious aid” during the transition. “They have been magnificent," Trump said, before leading applause of thanks from the crowd.

If this opening was innocent enough, however, it all changed in the next breath. The new president moved quickly to the “historic movement”, “the likes of which the world has never seen before”, that elected him President. Following the small-state rhetoric of his campaign, Trump promised to take power from the “establishment” and restore it to the American people. “This moment," he told them, “Is your moment. It belongs to you.”

A good deal of the speech was given over to re-iterating his nationalist positions while also making repeated references to the key issues – “Islamic terrorism” and families – that remain points of commonality within the fractured Republican GOP.

The loss of business to overseas producers was blamed for “destroying our jobs”. “Protection," Trump said, “Will lead to great strength." He promised to end what he called the “American carnage” caused by drugs and crime.

“From this day forward," Trump said, “It’s going to be only America first."

There was plenty in the speech, then, that should worry viewers, particularly if you read Trump’s promises to make America “unstoppable” so it can “win” again in light of his recent tweets about China

But it was the things Trump didn't mention that should worry us most. Trump, we know, doesn’t use official channels to communicate his most troubling ideas. From bizarre television interviews to his upsetting and offensive rallies and, of course, the infamous tweets, the new President is inclined to fling his thoughts into the world as and when he sees fit, not on the occasions when he’s required to address the nation (see, also, his anodyne acceptance speech).

It’s important to remember that Trump’s administration wins when it makes itself seem as innocent as possible. During the speech, I was reminded of my colleague Helen Lewis’ recent thoughts on the “gaslighter-in-chief”, reflecting on Trump’s lying claim that he never mocked a disabled reporter. “Now we can see," she wrote, “A false narrative being built in real time, tweet by tweet."

Saying things that are untrue isn’t the only way of lying – it is also possible to lie by omission.

There has been much discussion as to whether Trump will soften after he becomes president. All the things this speech did not mention were designed to keep us guessing about many of the President’s most controversial promises.

Trump did not mention his proposed ban on Muslims entering the US, nor the wall he insists he will erect between America and Mexico (which he maintains the latter will pay for). He maintained a polite coolness towards the former President and avoiding any discussion of alleged cuts to anti-domestic violence programs and abortion regulations. Why? Trump wanted to leave viewers unsure as to whether he actually intends to carry through on his election rhetoric.

To understand what Trump is capable of, therefore, it is best not to look to his speeches on a global stage, but to the promises he makes to his allies. So when the President’s personal website still insists he will build a wall, end catch-and-release, suspend immigration from “terror-prone regions” “where adequate screening cannot occur”; when, despite saying he understands only 3 per cent of Planned Parenthood services relate to abortion and that “millions” of women are helped by their cancer screening, he plans to defund Planned Parenthood; when the president says he will remove gun-free zones around schools “on his first day” - believe him.  

Stephanie Boland is digital assistant at the New Statesman. She tweets at @stephanieboland