Deals on cards for first-time buyers

First-time buyers may be in line for deals as banks are being forced to chase a declining pool of borrowers to protect their profits.

Banks are caught in a vicious circle that will force them to compete for borrowers as people repay mortgages and the number of houses falls.

While this may be bad news for the banks’ balance sheets it could be good news for first time buyer as the banks are forced to compete for new business.