Press release: Majority of first-time buyers admit they have overstretched themselves financially
15 February 2014
Our new research among recent first-time buyers (who had purchased their property in the last two years) has found that a huge proportion decided to buy a house without a full understanding of the true costs involved. Three-quarters (74%) said they stretched themselves financially in order to afford it.
In addition, one in five (19%) said that in hindsight, they would have purchased somewhere cheaper and over a third (38%) said that their finances ‘keep them awake at night’.