First-time buyer (FTB) mortgage applications in Q3 2025 increased by 9.3% compared to the same quarter last year, new analysis by Yorkshire Building Society has shown.

This marks a slowdown in the rate of growth year-to-date, however, with the society reporting there has been an overall rise of 11.4% in FTB applications since the beginning of January.

Yorkshire Building Society, analysis CACI’s data, highlighted that there were 123,149 FTB applications in Q3, compared to 112,630 during the same period of 2024. In the whole of 2025 so far, there have been 380,479 FTB applications, compared to 341,651 up to the end of September last year.

The society’s previous quarterly analysis, released in July, showed a 12.4% increase in FTB applications compared to Q2 a year earlier, with 131,682 applications compared to 117,126.

Group economist for Yorkshire Building Society, Max Shepherd, said the latest figures show the market “remains resilient despite the recent changes in stamp duty thresholds”.

“FTBs are continuing to show remarkable resilience despite ongoing macroeconomic and affordability challenges,” Shepherd commented.

“The positive changes we’ve seen so far this year – including regulatory updates around stress-testing requirements and loan-to-income limits which have allowed mortgage providers to lend more – are likely to be playing a part in that.

“However, the growth of this important borrower group is showing signs of slowing amidst the headwinds they continue to face around high house prices and cost of living challenges which are preventing them from building deposits. This could be an early warning sign that they need more support from the Government and mortgage industry.”

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