Quit smoking and get onto property ladder

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Quit smoking and get onto property ladder

Mon 9th Jul 2007

People giving up smoking in the wake of the public ban earlier this month could be helping themselves to get onto the property ladder for the first time.

Research by Abbey indicates that a smoking couple could save £2,576 towards the purchase of their first home this year, with the group suggesting that it will take £5,280 to move into a first home.

Abbey has found that over two-fifths of Britons would be prepared to quit smoking in order to assist their drive to get on to the housing ladder.

Nici Audlham-Gardiner, head of mortgages at Abbey, said: "With the smoking ban here to stay it really is the ideal opportunity to save up some hard cash for a first home."

She added: "So, it's time for all those first-time-buyers that told us they'd quit cigarettes to get on the housing ladder, to put their money where their mouth, or should I say their cigarette, is."

Various Abbey mortgages are suited to the first-time buyer, including the group's 100 per cent LTV package, or no-deposit mortgage deals that offer five per cent money back.

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