House Buy Fast Infograph Displays Why First Time Buyers Are Struggling To Save Deposits

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Research has shown some alarming statistics such as regular savers saving £393 a month for 5% deposit would take 1 year 7 months. £7,792 is the average cost first time buyers home in the UK and 3 years for London Property.

First Time Buyers Struggling To Save Deposits

With the talk of the recent UK budget fresh on everybody’s minds, we at House Buy Fast have decided to make a handy infograph displaying why first time buyers are struggling to save deposits. We take a look at the facts and figures from the newly extended help-to-buy scheme.

Now if you don't know about the help-to-buy scheme, the Government offers mortgage lenders the option to purchase a guarantee on mortgages where a borrower has a deposit of between 5% and 20%.

Although this scheme is meant to give prospective buyers more confidence into obtaining a mortgage, we have found that 36% feel they have no prospect of buying in the next 10 years. While 73% do not expect to buy before phase two of the help-to-buy scheme ends in 2017.

For more information check out the article here.

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Jonathan Rolande
House Buy Fast
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since: 08/2012
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