{"id":17186,"date":"2018-06-01T16:45:08","date_gmt":"2018-06-01T15:45:08","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=17186"},"modified":"2018-06-01T16:45:08","modified_gmt":"2018-06-01T15:45:08","slug":"northern-highlights-buyers-save-bigger-deposits-in-north-and-scotland","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/2018\/06\/01\/northern-highlights-buyers-save-bigger-deposits-in-north-and-scotland\/","title":{"rendered":"Northern highlights: buyers save bigger deposits in north and Scotland"},"content":{"rendered":"

New research just released by MyJobQuote highlights the fact that the UK\u2019s north-south divide definitely favours would-be first-time buyers living in the north of England and Scotland.<\/strong><\/p>\n

Those who took part in the research survey had all been saving for three to four years towards a deposit<\/a> for their first home and 64% of those questioned said they would be calling on financial help<\/a>.<\/p>\n

The Bank of Mum and Dad<\/h4>\n

The \u2018bank of Mum and Dad<\/a>\u2019 was the top choice for savers asking for a bit of extra help getting onto the property with 51% borrowing from parents, 29% tapping into funds from their grandparents and 16% using cash from other family. A total of 6% anticipated receiving financial input from their employer and 7% intended to seek funding from a former partner.<\/p>\n

North-east rank top savers<\/h4>\n

In the north-east<\/a> of England, savers managed to pull together the largest deposit, averaging \u00a39,875, followed by Scotland<\/a> racking up average deposits of \u00a38,327 and Yorkshire<\/a> with \u00a37,939. As property prices in London<\/a> outrank everywhere else, as do living costs, the average deposit saved was a mid-range \u00a35,106; whereas the south-east came in with a modest \u00a31,560, the east of England’s average savings were \u00a32,485 and just \u00a31,357 for the East Midlands<\/a>.<\/p>\n

Temptation dwindles deposits<\/h4>\n

Temptation<\/a> emerged as a reason for deposits to dwindle with 54% admitting to dipping into their house savings pot – of which 28% was spent on socialising and 33% for holidays.<\/p>\n

Lisa Evans from MyJobQuote said: “It\u2019s not easy to put money aside<\/a>. Although house prices tend to be more expensive in the south and London in particular, this isn\u2019t reflected in the amount that first-time buyers are able to save, meaning their journey will be both longer and slower than someone looking to purchase in the north<\/a>.”<\/p>\n","protected":false},"excerpt":{"rendered":"

New research just released by MyJobQuote highlights the fact that the UK\u2019s north-south divide definitely favours would-be first-time buyers living in the north of England and Scotland. Those who took part in the research survey had all been saving for three to four years towards a deposit for their first home and 64% of those… Read more »<\/a><\/p>\n","protected":false},"author":217,"featured_media":17197,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[42,6],"tags":[251,341],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/17186"}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/217"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=17186"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/17186\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/17197"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=17186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=17186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=17186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}