Half of first time buyers to apply with partner

Ryan Bembridge

September 29, 2016

Half (48%) of potential first-time buyers plan to apply for a mortgage with a partner and just a quarter (25%) want to go it alone, Aldermore research shows.

Two in five (39%) admitted they were finding it ‘extremely’ difficult to get on the housing ladder and the same proportion (39%) saw raising a deposit as the biggest obstacle.

Aldermore conducted the same research before the EU referendum and found the responses to be similar.

First-time buyers make up half of purchase market

Charles Haresnape, group managing director of mortgages at Aldermore, said: “Our research, conducted both immediately before the EU referendum and after the initial period of uncertainty following the Brexit vote, shows that first-time buyers’ mind-set remains almost entirely unchanged on their plans to purchase their first property.

“First-time buyers are the driving force of the property market, and the levels of confidence and economic outlook have large-scale ramifications further up the housing chain

“While around a million people are looking to get on the housing ladder in the next twelve months, trend data shows only around a third or so will actually achieve that goal, with the number of first-time buyers in the last two years in the region of 300,000.”

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