Money Box Live: Home Ownership Dreams

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 26 March 2025

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

Politicians, banks and builders all talk about the dream of homeownership, but it's not easy to get on the property ladder.

New figures given to Money Box Live show that, even though the Bank of England has reduced interest rates, it's now more expensive for a first-time buyer with a 10% deposit than it was two years ago.

In this Money Box Live we hear from someone trying to save enough for a deposit, someone trying to navigate through conveyancing to complete their sale - and someone who overcame the obstacles and challenges to move into their dream home.

Felicity Hannah is joined by Sarah Tucker, Director and Founder of the broker the Mortgage Mum and Emily Williams, Director, Residential Research at the estate agent Savills.

Presenter: Felicity Hannah Producers: Sarah Rogers and Catherine Lund Editor: Jess Quayle

(First broadcast at 3pm on Wednesday 26th February 2025)

Transcript

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0:00.0	What do Selena Gomez, LeBron James and Martha Stewart all have in common?
0:06.2	Their lives and fortunes are all being discussed in season three of Good Bad Billionaire.
0:10.9	Yes, the podcast exploring the minds, the motives and the money of some of the world's wealthiest individuals is back.
0:16.9	I'm Zing Singh and I'm Simon Jack.
0:18.6	Each week we take a closer look at some of the world's mega rich.
0:21.8	And try to decide together whether we think they're good, bad or just another billionaire.
0:26.5	Good bad billionaire.
0:27.5	Listen first on BBC Sounds.
0:31.6	BBC Sounds, music, radio, podcasts.
0:35.2	Hello, politicians, banks and builders all talk about the dream of home ownership.
0:40.3	It's not always easy to turn that dream into reality. But when it happens, the feeling can be
0:45.5	incredible. We had an offer accepted on a place back in September. So nearly six months ago now.
0:51.6	Very, very looking forward to that moment when, yeah, it's all over the line.
0:54.9	New figures given to the Moneybox Live podcast show that even though the Bank of England has reduced interest rates,
1:01.5	it's now more expensive for a first-time buyer with a 10% deposit than it was two years ago.
1:07.5	And at the same time, house prices keep edging higher.
1:14.1	Almost 90% of would-be buyers can't afford a home in their local area. That's according to Skipton. Despite that, there has been a recent rush of first-time
1:20.3	buyers to the market as they try to complete before changes to stamp duty cost them thousands.
1:26.5	So how are they doing it? From living on instant noodles to
1:29.5	getting help from the bank of mum and dad, in today's Moneybox Live podcast, we're looking at a few
1:34.5	of the ways people are getting onto the property ladder. Let's kick off today's program by talking
1:39.3	to Ruth in Birmingham, who has that dream of home ownership. Ruth, hello. Thanks for having me on.
	...

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