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Factor furniture in when taking out a tracker mortgage

Date: Thu, 28 Apr 2005

First-time buyers should consider the initial costs of setting-up home when taking out a tracker mortgage

Research by Alliance & Leicester Mortgages shows that many first time buyers are having to make furniture sacrifices in order to get their foot on the property ladder.

The online survey discovered that a kettle tops the list of essential items for new buyers, whilst as many as one in five do not view a bed as an essential item.

"With the cost of moving into a home continually rising and first time buyer activity at a 20 year low, it is important that they prioritise how they budget and cover their costs," said Stephen Leonard, director of mortgages at Alliance & Leicester

"First time buyers 30 years ago seem to have had a rosier first night experience, compared with first time buyers today."

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