26 May

More first-time buyers seeking parental help

More first-time buyers seeking parental help

The majority of first time buyers seeking houses for sale in Herefordshire and other parts of the country will get some kind of support from their parents, a survey from Clydesdale and Yorkshire Banks has revealed.

In 2005, only 38 per cent of buyers had help from Mum and Dad, but more stringent lending criteria have seen more buyers falling back on parental support.

Meanwhile, just under half of properties bought by first time buyers were purchased with a join income, either as a couple or a house sharing arrangement with a friend.

"At Clydesdale and Yorkshire Banks, we recognise that first time buyers are vital to keeping the property market moving and are committed to helping them with our range of competitive products," said Steve Reid, retail director for Clydesdale Bank.

Surprisingly, a survey by Shelter recently found that three-quarters of first time buyers believe banks must lend more responsibly, even if it means fewer people are able to get mortgages.ADNFCR-1222-ID-800558699-ADNFCR

Cookies We use cookies to ensure that we give you the best experience on our website. To find out more about our cookies policy, see our cookies policy here or in the footer.