Securing first mortgage 'is most stressful experience in life'
26-Jan-2010
Almost one-quarter (24 per cent) of homeowners rate buying their property as the most stressful experience of their life - with the burden especially tough on
first-time buyers (FTBs).
Roughly six-in-ten second-time buyers (59 per cent) said that the level of worry decreased when they moved on, indicating the hardship involved with securing a
first mortgage is the most intense.
Being part of a property chain is another factor which tends to increase stress levels, according to the research by Unbiased.co.uk.
One way to avoid such concerns may be to choose a
shared mortgage,
shared equity deal or ask for parental help - all of which could help to decrease reliance on a difficult-to-attain traditional mortgage.
Karen Barrett, chief executive at the website, said: "So much time and effort is invested into finding the right home, it is no surprise people find it more stressful than having a baby."
Those who wish to persist with the mortgage route may wish to consider a deal offered this week by the Yorkshire Building Society specially designed for
FTBs.
How to buy a house from finding your
first property,
first time buyer mortgages,
mortgage advice,
shared equity,
shared ownership,
joint ownership,
part buy part rent and
HomeBuy. All a
first time buyer could need as well as first time buyer news at FirstRungNow.com.
FTBs 'battling to enter less affordable' housing market Return of buy-to-let investors 'is bad for FTBs' FTBs 'not helped at all by low interest rates'
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