Millions of us are not able to climb onto the property ladder as a result of the current rocketing house prices, so new research demonstrates.
Figures released today by Abbey show that some 7.4m Britons say house prices in their area are too high for them to afford a property.
Moreover, a further 6.9m Britons state they are unable to pay for a deposit on a prospective home . A further 3.4m potential first-time buyers are hoping for house prices to decrease, with another 2.1m Britons stating that they cannot find the mortgage that is right for them.
There are some who do not want to get onto the property ladder, and there are those who face several barriers of which the main one is the price of homes.
There are also other barriers, like lack of time, job security, and getting the appropriate mortgage.
Oddly enough, despite there being hundreds of mortgages out there, research highlights that 12% of non-homeowners consider that they would have bought by now if they had found the right mortgage.
3m cited job security , 2.5m lack of time and 6m do not wish to have that commitment. 2.7m first time buyers compromised on the houses they bought.
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7.5 Britons Cannot Afford a House
Thu, 02 Nov 2006
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