Abbey is encouraging first time buyers to share their experiences of the house buying process on a new website launched this week.
With house prices soaring to unprecedented levels and forcing buyers to take out ever increasing mortgage loans, it is more important than ever to get the right deal.
Abbey's site, www.thewordonyourstreet.co.uk, provides young first timers with helpful tips and advice from people their own age who have been there and done it in today's tough market.
Research from Abbey shows that just 13 per cent of young first time buyers go to their bank or building society for advice on purchasing a home compared to 17 per cent who rely on friends and family for help and guidance.
In addition, an increasing number of homebuyers aged 16 to 34 are looking to the internet for advice on which mortgages to buy and information about what they can get for their money.
Abbey's new website has been launched in recognition of this growing trend, allowing first time buyers easy online access to advice from those who have first hand experience.
Nici Audhlam Gardiner, product executive for mortgages at Abbey, said: "This website community helps demystify house buying, with advice and help from those who've done it before, or who are going through the process."To read more about mortgages, click here.
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