The average first-time buyer spends 3.3 years saving for a mortgage
The average first-time buyer expects to spend 3.3 years saving for a deposit for their first home, according to research from Santander Mortgages.
The survey shows 23% of first-time buyers think it will take them at least five year to get together a deposit. 54% of those asked say that they will be using savings for their deposit, while 28% are taking on second jobs or overtime to boost their deposit fund and 27% are hoping to take out a loan.
May 5, 2011
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