New research from Aldermore’s quarterly First Time Buyer Index has revealed the stress and strain first time buyers experience in the current housing market.
We were shocked and saddened to read the results, that show the process of buying a first property causes so much stress for some people it has made them ill (35%) or caused issues in their relationship (34%).
While we understand that buying a house can be a stressful time, here at Poole Townsend we want first time buyers to feel in-control and stress-free during the buying process. Luckily, due to the vast experience we have in our teams and the fact that everything can be dealt with under one roof, we’re making sure we’re doing absolutely everything we can to make the process as smooth as possible.
Aldermore’s figures revealed that nearly one in five recent first time buyers took three or more attempts to buy their home, while a quarter had to delay by more than two years. The impact of the buying process even resulted in 40% feeling like they have had to rebuild their life due to the compromises they had to make to get on the housing ladder. Nearly one in 10 found the actual process of securing a mortgage the biggest difficulty and the same number cited the whole buying process as the biggest problem.
Interestingly, when asked what could be done to improve the situation, over one in three said simplifying the whole buying process would help, while 30% believe the situation would improve if better mortgage products were available.
Our experienced and friendly team at Poole Townsend will do everything they can to help customers simplify the whole buying process. We don’t want anyone buying a house to feel stressed or overwhelmed, we want them to be excited about the prospect of getting their foot on the property ladder, and to look forward to that incredibly exciting moment when they’re handed the keys to their very own home for the first time.
If you think we can help make your house buying situation smooth and simple, please don’t hesitate to get in touch. Contact your local office here and find out more about how we can help.