Second home move costs up threefold

AOL Money Staff
couple looking in estate agent window
couple looking in estate agent window

The cost of trading up from a first-time buyer property to a second home has risen almost threefold in the last decade, a study has said.

The leap is so big that one in six people trying to take their second step on the property ladder may need to turn to their parents to borrow cash, asking for nearly £13,000 on average, Lloyds TSB found.