Half first time buyers buy with partner

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.

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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Written by: Houseladder