Call us today FREE on 0141 413 9467
  • Glasgow (Giffnock) 01416212212
  • Hamilton 01698477614
  • East Kilbride 01355263777
  • Glasgow (Newton Mearns) 0141 611 5221
Law Society of Scotland

Blog

Business banner
2 minutes reading time (334 words)

Scotland and East Midlands have the most confident first-time buyers in the UK

Would-be first-time buyers in Scotland and the East Midlands are more likely to get on the housing ladder alone than those across the rest of the UK, new research has found.

According to the latest report from the Nottingham Building Society, only 32 per cent of aspiring first-time buyers believe they would be able to buy a home on their own. In Scotland, however, this figure rises to 45 per cent, and increases to 41 per cent in the East Midlands.

The analysis also discovered 58 per cent of respondents felt they would need to be part of a couple to get their first home while 9 per cent aim to buy with either friends or family. Men were more likely to be first-time buyers with friends or family than women, with the data showing that 10 per cent of males would move in with friends and family, compared with just 6 per cent of women.

The Nottingham Building Society report found 43 per cent of potential first-time buyers have delayed getting on the housing ladder due to concerns over what post-Brexit could do to house prices.

The average first-time buyer expects to spend almost £211,500 for their property, with a deposit of £44,000. The study showed respondents believed the deposit needed to buy would be equivalent to 64 per cent of their combined annual salary.

Senior Manager for Nottingham Mortgage Services, Ben Osgood, explained:

“For most, buying as a pair is a result of taking that next step with your partner. However, considering the high deposits needed and the house prices buyers face, for some going halves is the only option to get on the ladder, so it’s a positive trend to see so many with the financial ability to go it alone.”

Contact our Property Lawyers Giffnock, Hamilton & Newton Mearns

If you are considering buying or selling your home in Glasgow or the surrounding areas, do not delay and speak with a qualified conveyancing solicitor today via the online enquiry form. 

Applying to adopt a child in Scotland
Additional £100 million investment for Scottish bu...

Make an enquiry

* indicates required field

Please let us know your name.
Invalid Input
Please write a Telephone Number.
Please let us know your email address.
Invalid Input
Invalid Input
Please let us know your message.
Invalid Input

Client testimonials

"I wanted to make you aware of the first class and professional service I received during the purchase of my new house, and sale of my flats. Elaine MacDonald, and her assistant, Tracey Matheson were fantastic to work with. I was kept up to date at all times..."
Stephanie, East Kilbride