First-time buyers willing to move further out to buy

Mortgage Introducer

August 2, 2017

Seven in 10 (70%) first-time buyers are choosing to buy homes 26 minutes’ drive from their preferred location to get on the housing ladder, Post Office Money research shows.

Owen Woodley, managing director of Post Office Money, said: “We’re seeing that first time buyers approach the market with enthusiasm and flexibility.”

First-time buyers are most anxious about securing a property (28%), extra costs such as solicitor fees (24%) and having to borrow money from loved ones (15%).

However 83% were approved for their mortgage first time around

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