First time buyers could hit the age of 44 before they make a purchase

Rising inflation and living costs mean people may have to save until their mid-40s before they can obtain a mortgage. Saving for a deposit on a house could take over ten years. The average age of a first time buyer could increase to 44 because people are failing to save enough cash to pay for rising deposits, according to a new study. Scottish Widows found that if people wait until they reach the age of 30 before they start saving for a deposit, it could take them 13 years to gather enough money to secure a mortgage on a typical home.