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Monday, 1 July 2013

Second-time buyers held back by negative equity, says Post Office

According to research from Post Office’s Step-Up report, 28% of second-time buyers are unable to progress on the property ladder due to negative equity.
Costs involved in moving have also meant nearly one in three (30%) of all prospective second-time buyers are having difficulty in climbing the property ladder. House hunters looking for their second home estimate they need an average of £7,279 to cover costs such as stamp duty and solicitor’s fees alone. This rises to £12,313 for those living in London.


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