The UK Chancellor of the Exchequer, Jeremy Hunt, has delivered his first Spring Budget. While it had very little mention of first-time buyers or mortgage rates, we share our thoughts on what it means for homeowners.
Mortgages
Three in five first-time buyers depend on the bank of mum and dad in order to get onto the property ladder, according to research by Just Group. In the last five years, 61 per cent of FTBs relied on financial help from relatives in order to purchase a property. In comparison, just 20 per cent of FTBs relied on financial assistance from relatives 30 years ago.
