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FTBs struggle to make housing ladder

Research carried out by Yorkshire Bank has revealed that first-time buyers across the country are being forced to put their house-buying plans on hold indefinitely.

More than one-in-five first-time buyers under 35 now think it best to shelve their house-buying dreams until the property market calms down.

The bank&#39s study reveals of those remaining determined to take the plunge, one-in-10 first-time buyers under 35 would be prepared to take out a personal loan to fund the necessary deposit to secure their home.

First-time buyers in some parts of the country are faring worse than others with; 22% in the South East and 21% in London who are currently considering renting for longer than they would like to, simply because of the over-heating housing market.

Andrew Hindle, Yorkshire Bank&#39s head of personal lending, says: “The market is tough out there at the moment and its really the time buyers who are suffering the most, as they have no existing equity to use to help them on their way. And its particularly disturbing with prices so inflated, and therefore the necessary deposits so large, one in ten would resort to taking out a personal loan to help them out &#45 certainly not something we would recommend.”


Time to repack your business&#39 punch

The number of packagers operating in the mortgage market has grown considerably over the last six years. This is most obvious within the specialist mortgage sector because – with very few exceptions – these lenders only accept packaged applications. If intermediaries want to help clients with all types of credit backgrounds they must enter into […]

Housing boom boosts Skipton

Skipton Building Society yesterday reported record levels of mortgage applications so far this year. The Yorkshire-based mutual, which employs nearly 1,000 people and has 80 branches in the UK, says mortgage lending for the half year to June 30 grew by more than 5% to £4.8 million. Savings balances were also up, rising nearly 5% […]

Packagers call for clarity

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Brokerage denies ex-employee&#39s malpractice accusation

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Five ways to invest in the connected world

Smart utility metering; fitness trackers; connected cars; smart factories; precision agriculture: the internet of things encompasses myriad applications. But how do you gain exposure – and profit – from this growing trend, asks Neptune fund manager & CTO Ali Unwin. Read more: Important information Investment risks Neptune funds may have a high historic volatility rating […]


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