Getting on the Ladder 11 12 2007 - News Archive

Getting on the Ladder

People hoping to get on the property ladder are going to drastic measures in order to save enough money for a deposit. A survey by the NHHO Home Stretch Survey in 2007 revealed that about two thirds of people said they would cut back on socialising, reduce spending on clothes and food and give up gym memberships and holidays in order to afford a home.

Many are considering shared ownership even though they think it’s not the ideal solution. When you compare the average salary of around £25k to that of the average home in the UK at £210k most borrows would struggle to find half this amount.
 
:: Added on: 11:12:2007 ::

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