Research from GMAC-RFC reveals around half of all brokers still blame affordability for preventing more first-time buyers getting onto the property ladder.The company had previously published research showing most 20-somethings who had not purchased a property had chosen not to. These were dubbed ‘POP’ers – people putting off purchasing. GMAC-RFC did the research to prove first timers’ decisions to buy are not affected by affordability and property size. But a more recent GMAC-RFC survey shows most brokers still believe affordability is the major thing holding back borrowers. Asked ‘What do you think are the main factors preventing first-time buyers from owning property’, 42% said affordability is the main issue, the second biggest being the deposit.
- Top trends
Security is top of the homebuyers agenda says research by the Royal Institution of Chartered Surveyors.The survey shows that single men and women identify nightlife and leisure as their major concern, whereas couples are more concerned with garages and off street parking. Throughout all lifestyle stages, however, security features high on individuals list of priorities, […]
Leeds Building Society today revealed record half-year interim results with assets increasing by 9% during the first half of 2005 to 6.7bn. Pre-tax profits were 24m, and mortgage completions increased by 8% to a record 881m, compared to the same period last year. Saving balances also rose by 179m to a record 4.3bn. There was […]
The Office of Fair Trading has slammed local authorities for charging consumers too much for property searches, with costs ranging from 55 to 269. With sellers having to provide Home Information Packs by 2007 the OFT has called on local authorities in England and Wales to make the property information they hold more readily available […]
Norwich and Peterborough is reducing rates on its UK and Spanish fixed rate mortgages. Fixed rate schemes over two years will be reduced from 4.78% to 4.68% for a maximum 90% LTV and £699 reservation fee, from 4.98% to 4.84% for a maximum 90% LTV and £385 reservation fee, and from 5.34% to 5.24% with […]
In any relationship that matters, professional or personal, you should be upfront with someone if you think they’re making a decision or doing something they might later regret. Being honest with someone and having their best interests at heart, however hard the message, is key to building trust in any relationship. So how does this […]
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