FTBs need long term help

The government needs to do to more to help first-time-buyers FTB find cheap mortgages in order to get on the housing ladder, it has been claimed.

Katy John, press officer for PricedOut.org.uk, said that there are a number of things that must be addressed in order to ensure young people can get access to the housing market.

"The government needs to focus on the longer term objectives of building more houses, continuing with its planning reforms to free up more land to build on, and ensuring that they learn from the mistakes made during the last house price boom," she explained.

However, cheap mortgages need to be more readily available to FTBs and young people need to take more responsibility to save up an adequate deposit to be eligible for the best deals.

Her comments follow the announcement by the Council of Mortgage Lenders that the number of loan applications approved for FTBs fell by two per cent in July, although the total value increased by five per cent.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-09-15 14:08:47 © Moneyextra.com