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.
The Bank of England has cut the base rate to 4.25%, opening up fresh opportunities for homeowners, first-time buyers, and those nearing the end of a fixed-rate deal. In this blog, we explore what the change means for you, what’s happening in the mortgage market, and how Skyline can help you stay one step ahead.
