First-time homebuyers face anxiety says expert

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First-time buyers in Portsmouth are struggling with ‘property ladder anxiety’, according to new statistics revealed by housebuilder Linden Homes.

A national study surveying 2,000 first-time buyers across the UK found that, although the majority of respondents want to own a home or have a property of their own to rent out, 54 per cent stated they didn’t feel they would be able to afford it in the next five years.

Not having enough money for a deposit was the most common barrier to buying a new home.

Peter Youll, managing director at Linden Homes South said: ‘So many people get property ladder anxiety.

‘They look at local homes on the market and do the calculations themselves based on a 20 per cent deposit without actually speaking to experts in the field.

‘What they don’t always consider is the schemes available to help make that house purchase, a possibility.

‘The advent of Help to Buy unlocks so much potential to get onto the property ladder.

‘We are often asked, “what’s the catch?” But put simply, it has never been a better time to buy a new build home.

‘People are only allowed to buy what they can afford – so this isn’t something to be scared of.’