Second steppers return to bank of mum and dad
09 June 2012
- Almost one in six (14%) second steppers in Scotland is considering asking their family for financial support to make their next move on the housing ladder.
- The price difference between a typical first-time buyer home in Scotland (a flat) and the house desired by many second steppers (semi-detached) has more than doubled over the past decade.
- Almost a third (31%) of second steppers in Scotland believes a shortfall or lack of a deposit will impact the purchase of their new house.
Almost one in six second steppers in Scotland, homeowners looking to sell their first home and move up the property ladder, are contemplating turning to the bank of mum and dad to plug the gap between the value of their first home and the cost of the house they would ideally move to, according to the latest research from Bank of Scotland.