Lockdown boosts property hopefuls’ finances

Almost a third of people who plan to buy their first home within the next year say their finances have improved during the coronavirus pandemic. Some 32% of people hoping to get on the property ladder felt this way, according to the research from YouGov, which suggested it may be because they had been able to save more money with fewer opportunities for discretionary spending. Among existing homeowners, 18% reported their finances had improved, while 36% said they had diminished. Starter home buyers have also struggled to get a mortgage with 53% finding they had a limited choice of competitive rates. People planning to sell a property within a year were particularly likely to say they had been negatively affected financially by the crisis, with early 38% saying it had made their finances worse.

The Daily Telegraph (17/07/2020)   Daily Express (17/07/2020)  The Independent (17/07/2020)   The I (17/07/2020)