Fifth of first-time-buyers are 'returners'

A fifth of first-time-buyers are actually "returners" who have at some point previously been home owners, according to new research.

A report by the Council of Mortgage Lenders (CML) has also shown that around ten per cent own a property which is not their current home.

Paul Samter CML economist who wrote the report, said: "Given the considerable complexities of modern life and the increasing interactions across the tenures, perhaps it is time for the government to develop a more holistic approach to housing market issues."

He added that a good starting point would be focussing on policies which deliver an "adequate supply of high quality housing".

The research also revealed that the number of second homes in England has risen by 30 per cent in the last ten years.

Among the members of the CML are banks, building societies and other mortgage lenders. It also includes lawyers among its members.

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