Harder to move up property ladder than to get on in first place according to Lloyds Bank

Recent press release from Lloyds Bank reveals that 1 in 4 Second Steppers say it’s harder to move up the property ladder than it is to get on in the first place.

Andrew Mason, mortgage product director at Lloyds Bank, said:

“Moving up the property ladder has become more challenging for Second Steppers in recent years. The rise in house prices and moving costs, along with how difficult it is to find the right property means that they’ve had to wait longer than anticipated or even put off their move entirely until the right property comes along.

“Second Steppers seem to be very clear on what they want from their next property and will stay put and improve their current home rather than make any sacrifices. Our research also shows that most homeowners think ahead and understand that it could take up to four moves in total to reach their ‘dream’ home.”

Read the Lloyds Bank press release 28th August 2017 in full click here.

Allen Walkey

Highly experienced businessman with a successful career in property sales and investment both in the UK and abroad. Now a freelance writer and blogger for the property and Investment Industry, keeping readers up-to-date with changes and events in a rapidly changing world.

You May Also Enjoy

Home and Living

The Anatomy of a Perfectly Cozy Reading Nook

The Foundation: Choosing the Right Space Selecting the ideal spot for your reading nook is the cornerstone of its success. Consider a quiet corner bathed in natural light, away from the distractions of modern life. The goal is to create a haven where one can escape into the world of literature without interruptions. Location Matters…
Read More
Breaking News

Breaking Property News – 21/02/24

Daily bite-sized proptech and property news in partnership with Proptech-X.   Government announces new Short-term lets rules to protect communities and keep homes available. Press Release London February 2024 – Overview – ‘Short-term lets rules to protect communities and keep homes available. Local residents will be protected from being pushed out of their communities by excessive short-term…
Read More
Breaking News

Enhancing Security and User Experience with Face Recognition Technology

In an era where digital interactions dominate our daily lives, the need for robust and convenient security measures has never been greater. Traditional methods of authentication, such as passwords and PINs, are increasingly susceptible to breaches and hacks. In response to these challenges, face recognition technology has emerged as a cutting-edge solution, offering a unique…
Read More
Love or Hate Rightmove
Breaking News

Rightmove’s weekly mortgage tracker – 21/02/24

Headlines The average 5-year fixed mortgage rate is now 4.72%, up from 4.62% a year ago The average 2-year fixed mortgage rate is now 5.08%, up from 4.95% a year ago The average 85% LTV 5-year fixed mortgage rate is now 4.67%, down from 4.68% a year ago The average 60% LTV 5-year fixed mortgage rate is now 4.19%, down from 4.23% a year ago The average monthly mortgage payment on…
Read More
Home and Living

Standing Desks Unveiled: Exploring the Health Benefits and Considerations

In recent years, standing desks have gained popularity as a revolutionary solution to combat the negative effects of prolonged sitting. As the modern workforce becomes more health-conscious, the standing desk has emerged as a promising alternative to traditional seated workstations. In this article, we unveil the health benefits and considerations associated with standing desks, providing…
Read More
Home and Living

6 Handy Tips for Maintaining Your Heating System

As the weather gets cooler, having a heating system becomes crucial for a home atmosphere. Besides the quality of your heating system and its installation, regular maintenance is key to keeping it running, lasting longer and using energy wisely. A maintained heating system not only keeps you warm but also helps save energy making your…
Read More