Good news on mortgage deals for first-time buyers
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Despite rising house prices, the mortgage market has improved considerably over the past 12 months – even for those with very small deposits
Aspiring first-time buyers hoping to swap landlords’ keys for a set to their own home have been hit by a fresh wave of data highlighting the struggle to buy. Yet is it all bad news for those desperate to own a home?
Last Thursday, housing charity Shelter released a report showing that it will take more than a decade to save for a deposit in some parts of the country. On the same day, Office for National Statistics figures showed that as recently as 1991 65% of 25- to 34-year-olds had bought their own home; this compares to under 45% now.
Article Published: 26/01/2015
Source: http://www.theguardian.com/money/2015/jan/26/mortgage-deals-first-time-buyers