{
  "id": 63796,
  "title": "The change that may help you get a mortgage as a first-time buyer",
  "url": "https://urgent.news/2026/08/02/the-change-that-may-help-you-get-a-mortgage-as-a-first-time-buyer-63796",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-02T23:16:32.000Z",
  "source": {
    "name": "BBC Business",
    "slug": "bbc-business",
    "url": "https://www.bbc.co.uk/news/articles/cp3rkzpl7ngo?at_medium=RSS&at_campaign=rss"
  },
  "original_language": "en",
  "account": "For first-time buyers, obtaining a mortgage can feel like an uphill battle due to the high cost of living and rising house prices, with the average home costing nearly £300,000. However, recent changes to lending regulations are making mortgages more accessible. Lenders can now offer loans up to six, or at most seven, times a prospective buyer's annual salary. This shift comes from a relaxation of restrictions that previously limited lenders to only 15% of mortgages at a loan-to-income ratio higher than 4.5 times.\n\nDavid Hollingworth, a mortgage broker, notes that this change could enable first-time buyers previously unable to afford a home to now consider ownership. However, this flexibility also comes with potential risks, so it's essential to understand the criteria lenders consider before approving a larger mortgage. These criteria often include a strong credit history, a stable salary, the ability to afford regular repayments, and a sufficient deposit. It's crucial to remember that personal circumstances can change, and lenders may tighten their lending criteria if economic conditions worsen.",
  "summary": "More relaxed mortgage regulation opens the door for some first-time buyers, but it comes with risk.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "BBC News",
        "title": "The change that may help you get a mortgage as a first-time buyer",
        "url": "https://urgent.news/2026/08/02/the-change-that-may-help-you-get-a-mortgage-as-a-first-time-buyer",
        "published": "2026-08-02T23:16:32.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}