Halifax: 14% of non-homeowners save for deposit

Posted: 01 Aug 2011 12:31:42 GMT

Only a small percentage of those who do not own a home are planning to do so.

Research has discovered just 14 per cent of non-homeowners are setting cash aside for a deposit.

The study from Halifax also noted 32 per cent of such individuals have a realistic plan to purchase a house within the next five years, while 14 per cent are trying to save money for these purposes but spend any spare cash on enjoying themselves.

Savings director Simon Kenyon comments: "We know from our own research that for some customers to get on to the ladder, their savings behaviours need to change."

The organisation has launched its Head Start Home Saver product with the aim of assisting those who do want to make a concerted effort to raise funds for a house.

Statistics from the Council of Mortgage Lenders discovered gross mortgage lending in June witnessed an upturn, reaching an estimated £12.6 billion for the month.

It may suggest that more people are looking to get on the housing ladder than were previously.
 

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