Second-time buyers stuck on the ladder

The lender says forty 49% of second-time buyers those people who own their first property and who are looking to trade up say the biggest single obstacle to moving to a bigger property is that they can’t afford a bigger mortgage. A further 7% are said to be in such financial difficulty they cannot afford the cost of stamp duty and legal fees. But at the same time 47% of second time buyers say they need a larger property. Its report says trading up to the next step on the property ladder is becoming so difficult that 42% of homeowners say they are more likely to stay put and extend the ...