A fundamental shift has occurred in the first time buyer (FTB) market, if research from GMAC RFC is to be believed.
The lender claims lifestyle factors are taking on as much importance as affordability. Although raising a deposit for a property is still the single biggest factor preventing FTBs from entering the property market - with 48% of people in this sector of the market claiming to have difficulty in raising the money - cultural attitudes towards settling down, getting married and starting a family are also taking on greater importance for 44% of respondents. GMAC says government and lender initiatives aimed at tackling affordability issues may never be able to change this shift in attitude e...
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