Abbey Mortgages: First-time buyers may have to commute

Money News

www.moneynews.co.uk > Housing market > Abbey Mortgages: First-time buyers may have to commute

Topics

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Features

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Companies

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Money News

bullet
bullet
bullet
bullet
bullet

Abbey Mortgages: First-time buyers may have to commute

Research from Abbey Mortgages reveals that first-time buyers may have to readjust their expectations regarding how long it takes them to get to work.

A study by the high street bank found that, on average, first-time buyers want a 43-minute daily commute each way.

However, Abbey cites research from the RAC which states that the average commute across all of Britain is 45 minutes, which suggests that first-time buyers may have to consider properties which are located a bit further afield.

Abbey director of mortgages Sue Hayes commented: "The current level of prices inside Britain’s major towns and cities mean more and more first time buyers are finding that they have to buy further than they’d like from their workplace.

"Even so, our research shows that many first time buyers are still not fully aware of how far they might have to commute each day in order to get onto the housing ladder."

Recent research from Abbey Mortgages reveals that first-time buyers in the south are expected to borrow 31 per cent more than those in the south for their home purchase.

Related News : Housing market

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet

Related News : Santander

bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet
bullet