First-time buyers 'would move abroad'
http://www.themortgageprovideronline.com/articles/470/1/First-time-buyers-039would-move-abroad039/Page1.html
Adfero Journalist
By Adfero Journalist
Published on 03/25/2008
More than half of first-time buyers would consider buying a home abroad in order to get on the property ladder, according to new research.
A new study by First Investment Company has revealed that some 44 per cent of respondents would consider buying a property overseas, with an additional eight per cent having already done so.
The combined figures represent 52 per cent of people who would willingly relocate to buy a house, with 47 per cent saying they would still opt for a first-time buyer mortgage in the UK.
Commenting on the findings, James Caldwell, director at Fair Investment, said: "First-time buyers are being driven to sunnier climes for a route onto the property ladder as a result of the credit crisis which has been shaking the foundations of the UK property market."
He added that first-time buyers willing to purchase abroad can sometimes benefit from cheaper property prices and a lower cost of living.
Last year, the Council of Mortgage Lenders found that in August first-time buyers were borrowing up to 3.9 times their income.
Get mortgage advice from independent mortgage brokers
More than half of first-time buyers would consider buying a home abroad in order to get on the property ladder, according to new research.
First-time buyers 'would move abroad'
More than half of first-time buyers would consider buying a home abroad in order to get on the property ladder, according to new research.
A new study by First Investment Company has revealed that some 44 per cent of respondents would consider buying a property overseas, with an additional eight per cent having already done so.
The combined figures represent 52 per cent of people who would willingly relocate to buy a house, with 47 per cent saying they would still opt for a first-time buyer mortgage in the UK.
Commenting on the findings, James Caldwell, director at Fair Investment, said: "First-time buyers are being driven to sunnier climes for a route onto the property ladder as a result of the credit crisis which has been shaking the foundations of the UK property market."
He added that first-time buyers willing to purchase abroad can sometimes benefit from cheaper property prices and a lower cost of living.
Last year, the Council of Mortgage Lenders found that in August first-time buyers were borrowing up to 3.9 times their income.
Get mortgage advice from independent mortgage brokers