FTBs fail to meet 2-yr deposit target

Findings of a study conducted by Alliance & Leicester suggest today’s new homebuyers want to raise around £11,710 for an 8% deposit on a property within, but the amount being saved the time taken to gather that amount is much longer because they are not saving enough each month. In order to reach that figure, FTBs need to save almost £500 a month, but in reality they are putting aside £270 a month over two years to make £6,570, says A&L, and leaving a shortfall of £5,140 from their target or forcing them to save for an additional 18 months. At the same time, however, almost a third (30%) ...