Young women looking to buy first homes

Some 1.8 million young women have saved enough to be looking to by their first property in the very near future, those seeking the best mortgage rates have been told.

Almost two million women aged between 18 and 34 in the UK are in the market to buy their first home, more than their male counterparts, research from the Post Office revealed.

Around 28 per cent of young women are looking for their first home compared to just 20 per cent of men.

Furthermore, female buyers are on average a year younger than men.

Half of young women said that it is important to invest in their own home for financial security, while 47 per cent said that paying a mortgage is a better use of money than renting.

Meanwhile, Yorkshire Building Society has launched a new product ideal for those seeking the best mortgage rates around.

The firm has unveiled a new fee free 2.99 per cent two-year fixed rate mortgage deal.

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2011-06-24 13:08:56 © Moneyextra.com