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.