Nationwide doubles lending to first time buyers

Sarah Coles
Nationwide branch
Nationwide branch

AP Photo/Sang Tan

Could things be looking up for first time buyers? There's certainly a glimmer of hope in the news that Nationwide has doubled its lending to first time buyers in the six months to September. In fact, these first timers make up nearly a third of new borrowers at the building society.

So why is Nationwide doing this, and what effect has it had?