Thousands getting into debt to meet housing costs

iStock_000007329749XSmallNew research has shown that thousands of people are taking out loans to help them keep up with their rent or mortgage payments, whilst many more are burying their head in the sand over late payments. Research from the housing charity Shelter, has found that nearly 20% of mortgage holders and tenants have had to take borrow money to keep up to date. Furthermore around 10% of people are concerned they will not be able to pay their mortgage or rent at the ...

‘Bank of mum and dad’ pays out £2 billion to help first time buyers

‘Bank of mum and dad’ pays our £2 billion to help first time buyersA new survey has highlighted the massive ‘withdrawals’ many children are making from the ‘bank of mum and dad’, to help get onto the housing ladder. The research, undertaken by the housing charity Shelter and involving more than 15,000 people, shows on average parents are contributing £17,000 of the average £28,000 deposit needed by first time buyers. Staggeringly, the support of parents equates to ...

6 Hints & tips to help your children get onto the housing ladder

ladder to the sky A recent survey from the housing charity Shelter, has showed just how hard it is for many would-be first timebuyers to get onto the housing ladder. The full survey results can be found by clicking here. The main findings though were shocking: The average purchase price paid by a first time buyer in England is £139,920 The average deposit put down is £27,894, equivalent to 20% of the purchase price It will take a couple ...

Mortgages: A generation of renters ‘locked out’ of the housing market

iStock_000018295400_ExtraSmallNew research has confirmed just how hard it is for first time buyers to save a large enough deposit to get onto the housing ladder. The research from housing charity Shelter, took into account a variety of factors, including earnings, rental levels, house prices and essential spending, to calculate the average length of time it takes to save a big enough deposit. Whilst the research only looked at areas of England, the results are likely to be replicated in Wales, ...