Most FTBs have £6,000 worth of debt

Despite 70% of potential buyers claiming to actively save for their deposit, three out of four (75%) admit they have outstanding debts. On average, a prospective first-time buyer is in the red by £5,860. Londoners turn out to be more prudent when it comes to managing borrowed money. Despite the expensive lifestyle the capital is renowned for, they have a lower amount of debt, at £5,350, when compared with the most indebted region of the West Midlands. There prospective first-time buyers have an average £6,870 of debt with those in the East of England in debt by £4,210 each. On averag...