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First-Time House Buyers 'face Big Bill'


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http://www.bbc.co.uk/news/business-12462885

Many first-time buyers must save the equivalent of more than a year's salary to be able to afford a deposit for a home, the Council of Mortgage Lenders (CML) has said.

The typical deposit stood at £12,700 at the start of 2007, but rose to £31,500 by the second half of 2010.

The figures were released as housing and lending bodies faced government calls to help first-time buyers.

However, the actual lenders themselves were not invited to the meeting.

Housing minister Grant Shapps summoned various parties to "frank and open" discussions on difficulties facing first-time buyers.

The government estimates 1.4 million households want to own their own home, but face a mortgage squeeze.

Surely the way forward is for house values to decline so such a large deposit isn't needed? Or we just get the banks to lend silly money again and everyone can have huge debts.

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You always try weasel your way out of it. Ever considered a move into politics? :lol:

At the moment I have too much conscience and would agonise over making the wrong decision. I clearly need to attend a course in how to be an effective sociopath, although I think I'd quite like Berlusconi as a mentor as his party's would be fun. He's clearly my choice over Brown/Blair as a mentor.

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http://www.bbc.co.uk/news/business-12462885

Surely the way forward is for house values to decline so such a large deposit isn't needed? Or we just get the banks to lend silly money again and everyone can have huge debts.

They didn't invite FTB'er or lenders. Who did they invite to this meeting?

Considering all the press releases, it sounds like no-one actual turned up

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When a racehorse starts lacking pace, they put them over a longer distance or drop them in class.

I suppose we could drop him down to 'off topic' and see if he can post a thread first in there.

If it's all the same I'd rather be put out to stud with all the young fillies, I've got quite a good track record in that dept.

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