Assetz® News » HOME | RSS Feed FEED | LIST ALL ARTICLES | ASSETZ HOMEPAGE
Investment Property News from Assetz

Assetz® Property News Service

First-time buyers rely on family


12th November 2012 | back to article listings BACK    print this article PRINT

Almost half of all first-time buyers get financial assistance from their families to raise a deposit for their new home.

Research from the Clydesdale and Yorkshire banks reveals that 49% of those buying their first property get help from their parents or grandparents with the deposit.

It also shows that 11% of those who get family assistance to buy their first UK property do so by using an inheritance.

Approximately 35% were given up to 10% of the home's sale price as a deposit, while 30% received a 20% deposit.

Wales had the most first-time buyers to receive a 10% deposit at 58%, followed by 48% of those in Scotland and the east of England.

An optimistic 34% of people in the north west of England estimated it would take them between six months and a year to raise a deposit, while 10% of Londoners thought it would take longer than five years.

Copyright Press Association 2012


Assetz® is a UK Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz Finance

Accessing the news service

You can view all of the Assetz® UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

Cookies on our sites
The assetz.co.uk group of websites uses cookies, some of which may have been set already. Read about our cookie use. If you continue to use the site, we'll assume that you're happy to accept them. To dismiss this message please click the button.