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Hennessy Bowie & Co has been practising in Bishopbriggs for some twenty five years, principally in the areas of domestic conveyancing, commercial conveyancing, commercial leasing, executries and matters relating to care for the elderly,
Couples Prioritise House-Buying Over Big Weddings
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Getting on the property ladder is a bigger priority for young British couples than having a big white wedding, according to research by HSBC.
The survey found that over a quarter (28%) of those aged between 18 and 34 would spend a £20,000 gift from their parents on a deposit for a house.
With the cost of a wedding now averaging £20,000, the findings reveal that only 1% of young adults would choose to shell out the entire sum on their nuptials.
Nearly half (47%) of Brits would apparently look to cut the cost of their wedding in favour of putting it towards a house deposit, while over a quarter (26%) would ask guests for cash instead of a traditional wedding gift to put towards a house.
According to HSBC, three out of five young Brits (60%) with aspirations of home ownership admit that they cannot afford a deposit for a first home without financial help from their family.
“With the average deposit for first time buyers now £23,500, it appears that couples are choosing to be pragmatic when it comes to tackling the difficult decision of whether to shell out on a big wedding or buy a home,” explained Peter Dockar, Head of Mortgages at HSBC. “Clearly, it appears that being savvy with the pennies and giving more thought to home buying is becoming a priority.”
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