An increasing number of Brits are buying homes temporarily to get a foothold on the property ladder, with plans to trade up as soon as possible, suggests a report.
Only a small minority questioned by mortgage provider First Active said that they were planning on staying put after buying their first house .
According to Andrew Nicholson from the mortgage provider, most first-time buyers see their first home as a "temporary base" and have no real emotional ties to the property .
Yet, even when mortgage hunters move into their second house, less than 25 per cent said they weren't planning on moving again.
The survey also found that a quarter of first-time sellers opted to move into a home in need of improvement, in order to move up the property ladder.
Mr Nicholson said that not only is it getting increasing tough for first-time buyers to afford a property, it can also be a struggle to find a second home for first-time sellers.
Many respondents to the mortgage provider's survey said hunting for and moving into a second property was an extremely stressful experience, for unlike first-time buyers they have to organise both the buying and the selling of two separate properties .
Mortgage hunters are short-term homeowners
Mortgage Quote Line
0845 108 0505
Mortgage hunters are short-term homeowners
Fri, 28 Apr 2006
Recommended links
Mortgage GuideMortgage Calculator
Little financial education a real problem for mortgage hunters, says expert
Long-term fixed-rate mortgage deals launched
Long-term fixed-rate mortgages getting cheaper
Apply for a free mortgage quote for your new home
CAB debt information
Urban first time buyers better chance on property ladder
First time buyers get on London property ladder
Help your child get on the property ladder
Mortgage hunters advised to get fixtures and fittings list
Mortgage hunters need to protect identity, suggests survey
Mortgage hunters face increase in house prices, reveals report
Mortgage hunters face average house price of £192,745
South East mortgage hunters unaffected by stamp duty changes
Mortgage hunters face higher house prices in March
First time buyers saving longer for deposits
First time buyers' spending doubles in 5 years, study shows
First time buyers got more mortgages in 2006
First time buyers have "unrealistic expectations"
New mortgage helps first time buyers, divorcees
First time buyers benefitting from buy-to-let, mortgage study shows
Survey: Graduates struggle to become first time buyers
Potential first time buyers opt for renting
Easier help for parents of first time buyers
New mortgage gives first time buyers "best of both worlds"
Interest only mortgages could cause problems for first time buyers
First time buyers get special mortgages
First time buyers rely on parents
| mortgages news |
|---|
| Mortgage lending still low, figures reveal - Mon, 05 Jan 2009 |
| Mortgage lenders will follow Nationwide's lead, expert claims - Mon, 05 Jan 2009 |
| Nationwide to freeze tracker mortgages - Fri, 02 Jan 2009 |
| More News |
Mortgage Rates by Lender 
Worried about Mortgage Repayments?
- Join our petition to Government to bail out burdened individuals, not just banks.
Free Mortgage Quote
Mortgages in Scotland
Equity Release
Switching Mortgages
Home Reversion Plans
Commercial Mortgages Arrears & CCJs?
Remortgages- Sub prime mortgages
- Arrears, CCJs
- Self certification
- Debt consolidation
Protect Your Mortgage