First time
buyers could pocket £377 million by moving in with a partner, a new study suggests.
By selling up duplicate items, couples could rake in some cash to pay for new things for their shared home or to put towards a
mortgage, according to the Co-operative Bank survey.
This selling off could help those
saving money to put a deposit on a first home - a process which takes a tenth of people up to six years, according to the Daily Mail.
"As the average age of
first time buyers has risen to 34, it is no surprise that purchasers have amassed, quite literally, a wealth of household items, which can often double when buying a first home together," says David Newman of the Co-operative Bank, which undertook the survey to mark the launch of the bank's
first time buyer mortgage service.
He adds that becoming a first time buyer is daunting and expensive. "So we have launched a mortgage range tailored specifically to meet their needs and a new 'mortgage minder' telephone service with the same person handling the application throughout for peace of mind," Mr Newman tells the Daily Mail.
The survey shows that the majority of first time buyer couples do not consider selling their duplicate gadgets and appliances, opting to store them in a loft or give them away.
Of those savvy first time buyers selling their goods for cash, over 80 per cent opt for selling via online auctions.
