Alliance & Leicester finds first time buyers ready to splash out

07 February 2005
First time buyers are quite prepared to splash out when they move into their new homes, a study by Alliance & Leicester has found.

The survey revealed that first time buyers were prepared to spend up to £15,000 in the first month of owning their own place.

As well as the standard moving costs, first timers are apparently happy to spend on redecorating to make their home feel more like their own.

"Our research shows that first time buyers today are clearly looking for a quick fix solution to achieving their dream home, "said Stephen Leonard, director of mortgages and savings at Alliance & Leicester.

"It is encouraging to see that many first time buyers would rather cut back on going to the pub in order to pay for their furniture than extend their borrowing."

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