22
Feb
First-time property buyers in Scotland 'putting down £25k
deposits'
The average amount of money paid by first-time buyers (FTBs) as
deposits for new homes rose last year, it has been claimed.
According to property data group Hometrack, such people shelled out
a typical sum of £24,537 to secure properties over the course
of 2009.
This was up on the £9,738 recorded two years ago before
current economic issues had taken effect.
Meanwhile, around 90 per cent of FTBs who bought property last year
were said to have been helped out financially by their
parents.
Responding to the findings, Michael Maloco from Maloco &
Associates in Dunfermline said: "Without the bank of mum and dad
many FTBs are just not able to get on the ladder."
However, the problems have begun to ease and lenders have started
offering more competitive deals.
Recently, Unbiased.co.uk revealed that FTBs represented the largest
number of people making enquiries through its service concerning
property buying last year.
