Video guides aid first-time buyers

LEADING housebuilder Taylor Wimpey has joined forces with property guru and TV favourite Phil Spencer to produce the ultimate guide for those buying their first home.

The series of five new videos, presented by Phil, covers everything from knowing the right time to buy to financing your move and negotiating your way through the housebuying process.

The guides are being launched as new research from Taylor Wimpey reveals that one in six people in the East Midlands are living with their parents more than a decade longer than they intended to as they struggle to get onto the property ladder.

More than eight out of 10 young people in the region said they had less freedom living at home and 68 per cent admitted it had an adverse affect on their love life. More than six out of 10 also felt that their relationship with their parents would be better if they moved out.

Some 57 per cent of respondents said they enjoyed living at home with their parents, but about one in seven thought they could be in their late 40’s or early 50’s before they were able to move out.

Phil Spencer says the research highlights the challenges faced by those trying to get on the property ladder, but insists that there is light at the end of the tunnel.

He says: “Living with parents on a temporary basis can be a great way to relieve some financial pressure while saving for a deposit, but if you take your eye off the end goal, you could find yourself stuck there!

“Make sure you have a proper savings plan in place, consider buying with friends or family and find out about the range of schemes from the government and housebuilders, which means you may only need to save a five per cent deposit.

“Buying your first home is one of the biggest moments in your life and it’s been great to work with Taylor Wimpey on these first-time buyer video guides that offer straight-talking and practical advice on virtually every aspect of getting that all-important foot on the property ladder.”

The first of Phil Spencer’s Buying Your First Home guides is now available to view by visiting www.taylorwimpey.co.uk/philspencer