Alliance & Leicester reveals first time buyer sacrifices

28 April 2005
Alliance & Leicester Mortgages has revealed that first night experiences for first time buyers has got worse, according to new findings.

A new survey by the company has shown that among the list of essentials first time buyers list are takeaways, televisions and a kettles, with the kettle for a cup of tea topping the list.

In fact as many as one in five rate it above a bed, claiming they would move into their first home without one.

Stephen Leonard, director of Mortgages at Alliance & Leicester, said: "Today's first time buyers are finding it increasingly difficult to get onto the housing ladder.

"With the cost of moving into a home continually rising and first time buyer activity at a 20 year low, it is important that they prioritise how they budget and cover their costs. It may be that any costs that are not factored into the budget could mean the difference between sleeping on a bed or the floor."

The results have changed considerably over the last 30 years, and Mr Leonard was surprised to find people placed a television above a television and "getting a good night's sleep".

"First time buyers 30 years ago seem to have had a rosier first night experience, compared with first time buyers today," he added.

To read more about first time buyers click here.

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