Save money for furnishings, suggests Santander mortgages

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Save money for furnishings, suggests Santander mortgages

Santander mortgages has advised first-time buyers to keep some money aside to furnish their new properties with.

Phil Cliff, director of mortgages at the company, made his comments after the organisation revealed one in six new buyers spend less than £1,000 on initially kitting out their home.

He highlighted how Santander mortgages is offering fee-free home purchase deals for its current account customers, which could help individuals have enough put aside to buy their furniture.

"Many first time buyers are so focused on saving for the deposit and fees that they don't have as much as they'd like left in the bank for furniture and furnishings," he explained.

Research by the firm showed that the average amount people spend on furniture when they own their first home is £3,782.

This week, Mr Cliff highlighted how first-time buyers could benefit from government intervention, after housing minister Grant Shapps announced he would help people to get on the property ladder.

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