Top Tips for saving your deposit
The spiraling cost of getting on to the property ladder is a duanting obstacle for the average first-time buyer to overcome.
According to the latest research from Aldermore, 58% of UK FTBs that bought since March 2020 had to raise a larger deposit than intended due the ongoing impact of Covid-19.
The average increase was an additional £22,849, bringing the deposit size up to £62,572 (an average of 18.6% of the property value). It took first-time buyers who bought since the beginning of the pandemic an average of nearly five years (4.6 years) to save up enough.
The lender has compiled their top tips to help those looking to achieve their home buying dreams.
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Source: Property Reporter