Call now on 01415529193
Saltmarket:
Cambuslang:
Baillieston:
Muirhead:
St Vincent Street:
...

The Glasgow Law Practice

We are a law practice with a number of offices throughout Glasgow including two offices in Glasgow city centre. This site is NOT a referral site. If you contact our firm one of our solicitors will speak with you to provide some free initial advice.

First-Time Buyers More Positive about Prospects

It was good to hear that first-time buyers are starting to feel more positive about their prospects of getting on the property ladder, according to Aldermore bank.

Its latest quarterly First-Time Buyer Index found a drop in the number who believe that buying their first home will be extremely difficult, falling from 39% in 2016 to 35% in Q3 2017.
 
In addition, as the market begins to flatten, rising property prices are no longer seen as such a barrier, with a 10% decrease in those who consider it the biggest obstacle to buying their first home. Almost one in ten (37%) found this to be the biggest barrier in 2016 in comparison to just over a quarter (27%) in 2017.
 
The Index has also revealed that mortgage affordability and difficulties’ securing a mortgage are increasingly becoming viewed as more of an issue. Over one in ten (12%) first-time buyers believe mortgage affordability is an obstacle to getting on the ladder, in comparison to just one in twenty (5%) in 2016.
 
When it comes to saving a deposit, first-time buyers are apparently more willing to go it alone and are slowly becoming less reliant on friends and family to help them save. Three in five (59%) are currently living with or would consider living with family and friends to get on the ladder (down 10% from 69% in 2016).
 
The survey also asked what would help first-time buyers get on the ladder. Just over a quarter (26%) believe building more homes would help them the most, a quarter (25%) believe there needs to be a special stamp-duty free allowance for first-time buyers and a quarter (24%) believe better mortgage products need to be introduced.

Contact Us

For expert legal advice on buying or selling property in Scotland then contact our specialist property lawyers today.
Man Receives Life Sentence for Glasgow Murder
All GLP Offices closing early today for Staff trai...

Contact us now on
01415529193
for a free consultation.

Contact us

Please add a value for .
Please add a value for .
Please add a value for .
is not a valid e-mail address.
Please add a value for .
Invalid captcha