Property News Item: 00027

11th Nov 2005

First Time Buyers rely on gifts or loans for their deposit.

Source: http://www.scottishwidows.co.uk

The annual Graduate First Time Buyer Survey published by Scottish Widows Bank reveals that 62% of graduates say buying a part in a property (eg with friends or family) is the most viable option for getting on the property ladder. 21% of graduates receive help in the form of a gift or loan to fund the deposit for their first home, while 45% return to the family home after graduating. 11% of graduates who do not own their own home think that a family member acting as guarantor on a mortgage is their best option.