FTBs waiting for a cheap deal on housing says A&L

clock

Over 1.3 million non-homeowners hope to pay less than the average house price for their first home, new research reveals.

Alliance & Leicester Mortgages quarterly Moving/Improving Index claims first-time buyers are in a bargain hunting frame of mind, as three in four (75%) who are currently renting or living at home with their parents are setting their sights on buying a property costing less than £184,152, the current national average. This compares to nearly 300,000 first-time buyers in the UK who plan to spend over the national average house price on their first home, says the lender. It claims 15% of prospective new buyers, who are currently renting or living at home with their parents, plan to spend be...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read