17 March 2017
Aldermore’s report shows that two thirds (65%) of prospective first time buyers feel that buying a home is unachievable for them at the moment, and 58% cannot see how they will ever be able to get on the property ladder. The report also highlights that it’s especially tough for prospective first time buyers who are self-employed, with two thirds of respondents who work for themselves (62%) saying they do not know how they will ever manage to get on the property ladder.
In addition to the difficulties facing first time buyers, the report looks in detail at attitudes to buying for the first time and the societal pressures, for example 18% of respondents feel their family is putting them under pressure to buy. Aldermore also explore the compromises first time buyers are having to make to save for a deposit and what measures they think would help the difficulties they are facing.