13% of Britons plan to buy in next 12 months

04-Dec-2006

Around one-in-ten of first time buyers and repeat purchasers plan to buy a property over the next 12 months, new research shows.

According to a study for Birmingham Midshires, despite mortgage lenders focusing on the 'average' homebuyer, first time buyers and repeat purchasers are increasingly likely to be same-sex couples, singles, or those in their twenties - 21 per cent, 17 per cent and 22 per cent respectively.

The study also found that 28 per cent of those looking to buy in the next 12 months are planning on doing so to take advantage of the continued rise in house prices.

"There is no such thing as an average borrower in modern Britain, yet many financial services companies continue to target mortgage products that respond to an outdated picture of British life," said Tim Hague, managing director of mortgages at Birmingham Midshires.

Birmingham Midshires' results were collated by polling company YouGov, following a study of 2,000 in November.

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