Ditching the daily commute has helped first-time buyers in Bedford save 11% towards a deposit

Town fares well in national list of those saving the most by home working during lockdown
By Clare Turner
Published 16th Sep 2020, 13:15 BST
Updated 16th Sep 2020, 13:22 BST
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New research has found that first-time buyers - who would normally commute to London - have used their time in lockdown to save, save, save.

According to online mortgage broker Trussle, people in Bedford saved 11.83 per cent of the deposit needed to buy a two-bedroom property of £201,807 - just by ditching the daily commute.

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Nearby Milton Keynes also fared well, with first-time buyers managing to save £2,573 which equates to 12.14 per cent of the deposit needed to buy a two-bedroom property of £211,946.

Bedford people have saved 11.83 per cent of the deposit needed to buy a two-bedroom propertyBedford people have saved 11.83 per cent of the deposit needed to buy a two-bedroom property
Bedford people have saved 11.83 per cent of the deposit needed to buy a two-bedroom property

The figures were recorded during April to August.

Miles Robinson, head of mortgages at Trussle, said: “We’re living in a time where many people’s finances have been impacted and household finances are stretched. However, money saved by working from home could offer some consolation for those who are currently saving to step onto the property ladder.

"For some first-time buyers, the savings from not taking their regular commute during lockdown could have added a boost to their deposits. Also, it’s likely they have saved on other costs like lunches in the city, which will have bolstered their deposits further."

Related topics:BedfordLondonMilton Keynes