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saint_gunner

First-Time Buyer Mortgage Survey

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Hi everyone,

I am currently in my honours year at university and my dissertation title is how has the financial crisis and its aftermath affected first-time buyers in the UK mortgage market.

As part of my dissertation I am conducting a survey on potential first-time buyers. If anyone that is 18-25 would be willing to take 2 minutes to fill in this survey I would be very grateful. Even if you know someone who is in this age bracket that would be willing to fill it in.

http://www.surveymonkey.com/s/RYLLKY2

Thanks a lot

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Out of interest, why are you restricting your survey to the 18-25 age bracket?

At a guess, brainwashed into identifying that age group as FTBs.

News: most FTBs are older than that. Some of them very much older.

News: that was true even when houses were at their cheapest.

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I'm sure you've thought about this in quite a lot of depth, and that you just want your original question answered, but that's unfortunately not going to stop me from making a few suggestions.

As mentioned above, I think the 18-25 age group is really too young an age group to get any meaningful indication of the state of the housing market. When I was in that age group, I really didn't care about buying a house, and I certainly didn't have a sufficient income to make it even remotely possible. I also had no idea where I was going to end up living, so the idea of tying myself down to a house was massively unappealing.

Fast forward to today, when I'm in my early 30s with a decent income, the one factor preventing me from buying a house is the fact that prices are too high. It has nothign to do with mortgage availability, as I've never bothered applying for a mortgage. I know that to buy a place where I would be happy living for the long term is just too expensive, and taking on the amount of debt required (I am pretty sure that I would be able to get a fairly big mortgage) is something I absolutely don't want to do.

Therefore, I think you have to look at the 25-35 age group as well, as these are the people who have also been priced-out by Brown's disastrous housing bubble.

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Therefore, I think you have to look at the 25-35 age group as well, as these are the people who have also been priced-out by Brown's disastrous housing bubble.

Why 25-35?

How about dividing FTBs into two age groups:

0-37 (Below average age)

37-over 100 (above average age)

Without knowing the outlier figures, good to be inclusive! I can think of at least one over-90 who is still technically a potential-FTB (sometimes dosses c/o my parents, but is older than them).

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Why 25-35?

Arbitrary, yes, but just based on my opinion of what the most fruitful age group to concentrate on would be. If you have time and resources then look at 35-40, 40-45 and so on, sure.

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Oh, I am a first time buyer, currently renting. For 7 years you know. For the first 3 years I could not get a mortgage as I came from abroad and had no credit history. Then eventually I learned that I need one and started building it. And now I am 35.

Reason I am renting is it is cheaper for me to rent and I don't mind renting - civil engineer so flexibility is welcome. I can afford to buy, decent deposit and income, no adverse credit and no loans to pay but still think the property is overpriced.

If you want better, relevant results you should expand the age groups.

Also, tell me if I am wrong but the chaps who sold to rent may be classed as first time buyers again but their age group will be probably in the 30-40s...and they will have massive purchasing power.

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Thanks for your input everyone. Very grateful for the amazing response!

The main reason I restricted the age group to 18-25 was in order to understand how younger people perceive the housing and mortgage market and their perceptions on the current state of affairs.

Basically to evaluate if this age group has sufficient knowledge on their future prospects for homeowning.

Once again, thanks for your interest.

Just looking for 14 more people to carry out the survey:)

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  • 285 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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