11 Mar

Second steppers saw a continuous struggle in 2012

Second steppers saw a continuous struggle in 2012

Second-time buyers across the country were struggling to take the step from the first home into a new abode in 2012, according to a newly-released report.

Lloyds TSB reported that some 61 per cent of people living in their first purchased house wanted to move up the property ladder through estate agents last year but were unable to do so because of market conditions.

"It is vital that this group of home movers receive more support and attention as they play an intrinsic role in getting the housing market moving again," said Stephen Noakes, mortgage director at Lloyds TSB.

The most common barrier to being able to purchase a new house was the dreaded deposit, with 65 per cent of those who were not able to move saying that this was the biggest issue.

This has been a continuous issue in recent times, with buyers often needing to have 20 to 25 per cent of the cost of their house when they head to the bank.

Other problems included a lack of affordable housing, negative equity and a lack of potential buyers.ADNFCR-1222-ID-801554279-ADNFCR

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