More than one in 10 (13pc) 18 to 34-year-olds are considering buying property
for the first time in the next year, but of those 16pc are considering
taking out a loan to cover the cost of the downpayment they need, according
to a study by
Only a quarter of the prospective first-time buyers surveyed already have the
deposit saved, with recent figures from the Council of Mortgage lenders
showing that first-time buyers are putting down an average of £32,000 each.
Out of those who have not yet saved enough for their deposit, 29pc are
planning to rent until they have saved enough money and 14pc are hanging
their hopes on property prices dropping further.
Around 6pc of first-time buyers are banking on 100pc mortgage deals returning
to the market.
First-time buyers have been hard …
Read the original article at Telegraph
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Tags: buy, deal, deposits, finance, loans, money, mortgage, pay, rent, UK
