You are here: Home - Mortgages - Buy To Let - News -

Brits still aspire to own homes

0
Written by:
04/12/2012
Brits still dream of being a nation of homeowners according to Clydesdale and Yorkshire Banks.

A survey of new homeowners and potential first time buyers revealed nearly one fifth think it works out cheaper to get on the property ladder than to rent.

Almost a quarter also believe buying is an investment for the future.

But there remains a difference in views between different regions of the UK, with the South East more ‘focused on their finances’, with 42% agreeing that it makes financial sense to buy compared to just 25% in the rest of the country.

More than half of those surveyed said they rented a property before buying their first home, although 7% admitted they had to give up their rented property and move back in with parents or a friend or family member so that they can save up enough for a deposit on their first home.

Andrew Pearce, retail director for Clydesdale Bank, said: “We understand how difficult it can be to take the first step onto the property ladder and are one of the few lenders still offering 95% mortgages to support first time buyers.”

Clydesdale and Yorkshire Banks have a range of mortgages for first time buyers including a 90% LTV rate of 5.99% and a 95% LTV rate of 6.49%, both fixed for 3 years with no arrangement fees.

Tagged:

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week