More than half (55%) of aspiring first-time buyers with a deposit at the ready are waiting for the current uncertainty to wear off.
At least 136,000 aspiring homeowners are holding off from buying due to Brexit uncertainty, according to financial services provider One Family.
More than half (55%) of aspiring first-time buyers with a deposit at the ready are waiting for the current uncertainty to wear off.
Nici Audhlam-Gardiner, managing director of lifetime ISAs at OneFamily, said: “At times of uncertainty it’s always hard to know what to do, and many would be homeowners would benefit from the reassurance of speaking to a financial adviser to help them understand the options available to them.
“While any market fluctuation as a result of Brexit could give first-time buyers a golden opportunity to get on the housing ladder, it could just as easily make it harder.
“If your clients are thinking of waiting a little longer it provides them with a good opportunity to boost their savings toward their first-home. The Lifetime ISA that replaces the Help to Buy ISA, that closes this year, gives first-time buyers a 25% boost to their savings on up to £4,000."
Two out of three first-time buyers (65%) ready to buy believing that doing so before Brexit would be a bad financial decision.
The majority of (55%) are therefore delaying their purchase as they think they will be able to get more for their money after 29 March this year.
One in five (19%) of those who are currently saving to buy their first property say that they would be able to buy if house prices dropped by 5%.
