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Mortgages needing 10 per cent deposits are continuing to return to the market, in a welcome move for first-time buyers. Lenders have launched 117 new products since the beginning of the year, and 29 in the first two weeks of February alone, according to information website Moneyfacts. These lower-deposit mortgages are popular with first-time buyers, … Read more
The proportion of first-time buyers spending more than £1million on their homes has doubled in the past year. Two per cent of buyers spent a seven-figure sum on their first home in 2020, compared to one per cent the year before, according to data from the estate agent Hamptons International. Based on Halifax data which … Read more
Getting on to the property ladder is an aspiration shared by millions of people across the UK. Roughly two in five UK households are in the private or social rented accommodation according to ONS figures, and many will have aspirations to buy. However, rising house prices mean that becoming a homeowner can seem an increasingly … Read more
First-time homeowners who had a tight budget revealed how they were able to transform their dated kitchen, while saving on the cost of an average renovation by 28 per cent. Sarah Macklin, 25, and her husband Jay, 26, who live in Cheshire, explained that they bought a secondhand kitchen on eBay for £850 and installed … Read more
The lockdown property market mini-boom that sent house prices climbing spelt bad news for first-time buyers last year. Against a backdrop of rising property prices and a mortgage crunch as banks and building societies reined in lending, the size of the average first-time buyer deposit by nearly £11,000 last year to more than £57,000 – … Read more
Bank of Glum and Dad: Parents feel squeeze as first-time buyer deposits rocket up to 25% to almost £60k House prices reached record highs in November, with the average deposit for first-time buyers leaping to nearly £60,000 Previous research showed more than half of first-time buyers under 35 relied on money from their parents Soaring … Read more
First-time buyers in Vaduz, Bern and Copenhagen can save up for a home the quickest, according to a new report – while those in Zagreb and Monaco could have to wait a whopping 25 years. The research by housebuilder Barratt Homes, which used statistics from the Numbeo global index, looked at how fast people could … Read more
The average first-time buyer must save more than a year’s salary to put down a deposit on a house, according to new data. A 20 per cent deposit on a home now equates to 104 per cent of annual pre-tax income of the average worker, Nationwide Building Society says. This figure, which applies to the … Read more
A first-time buyer has revealed how she completely transformed her ‘atrocious’ mould-covered home into a chic property – adding £45,000 to its value. Amberley Rainey, 37, from Wirral, spent £18,000 on the extensive renovations and is now reaping the rewards, with the home now worth £220,000. The officer manager says the three-bed house was a … Read more
A first-time buyer with a staggering £4 million budget will struggle to choose between a home with a cinema, a 15th century cottage and a sprawling property with its own orangery in a fly-on-the-wall documentary about Britain’s most expensive houses. Zak Johnson, 34, who runs a sustainable fashion brand, and his girlfriend Charlie have been … Read more