While most would baulk at this kind of upheaval, 25 per cent see it as a stark reality if they are ever going to find a place to call their own.
Even more drastically, 16 per cent would consider moving abroad. With another 16 per cent admitting they would readily take on not only a second job, but also a third.
The research found other interesting increases in the measures that today’s first time buyers would take to get a foot on the property ladder. Indeed, while only one-in-ten of those who got on the housing ladder in the last five years would have sold items of sentimental value, this has more than doubled today with one-in-five of today’s first time buyers (20 per cent) preparing to do so.
Nici Audhlam-Gardiner, head of Abbey Mortgages commented: “It’s interesting to see the lengths that people are prepared to go to for their first property. Although it can be more difficult these days to become established on the property ladder than it has been for previous generations, there are still a number of options for first time buyers that don’t require taking such drastic measures.
“Abbey is fully aware of the difficulties first time buyers have in getting onto the property ladder, and is committed to developing new mortgages to give these customers the help they need.”
