First-time buyer advice 'for saving-savvy younger Britons'

21-Jun-2010

Posted by Joshua Scott

First-time buyer advice can prove invaluable when it comes to deciding which type of home loan to take out and how to get on to the property ladder.

But a new survey from Lloyds TSB highlights the ability of Britons in their 20s to save, leaving their mums and dads trailing behind.

Almost a fifth of people in their 20s save up to £3,000 a year, while 64 per cent of individuals in this age group claim to have started saving before they reached 18.

Just 44 per cent of Britons in their 50s started putting cash aside in their early teens, the bank's study reveals.

While first-time buyer advice can highlight the home loan options available, fewer questions may be asked about how best to save a deposit.

Commenting on the saving habits report, Greg Coughlan, from Lloyds TSB Savings, says: "Often the biggest barrier to savings is starting in the first place, so it's really encouraging to see that today's young people are taking the first steps in creating a nest egg for the future."

It was recently revealed by the Council of Mortgage Lenders that first-time buyer mortgages represented 35 per cent of home loans granted in April.

First Time Buyer Advice If you want first time buyer advice - this is the right place where we have information on shared and joint ownership and shared and joint ownership mortgages - all the first time buyer advice you could want.

First-time buyer mortgages 'are getting easier to find'
Buyers may consider shared equity as house values fall
First mortgages could be a step towards long-term financial security

2012: May | Apr | Mar | Feb | Jan

2011: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2010: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2009: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2008: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2007: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2006: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar | Feb | Jan

2005: Dec | Nov | Oct | Sep | Aug | Jul | Jun | May | Apr | Mar