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Will first-time buyers ever get back on the property ladder?

As we see the introduction of the infamous 125% mortgage from Nationwide, even though it is perhaps not as bad as it seems, there are concerns that first-time buyers in the UK will struggle to climb aboard the property ladder. Despite the fact that UK property prices have fallen substantially over the last 18 months there is still a significant gap between what are the average first-time buyer can afford, mortgages available and the average UK house price.

Even if a first-time buyer was lucky enough to find a house within their price range the vast majority of mortgages on the market today require a substantial deposit, especially for first-time buyers. At a time when the UK housing market is crying out for new blood it seems that mortgage providers in the UK are unwilling or unable to forward new liquidity. The longer this continues the slower the recovery in the UK housing market will be and the more potential first-time buyers will miss the "boat".

While UK authorities and the UK government have promised significant help for first-time buyers this has not as yet been forthcoming and frustration is starting to grow. The UK property market has been something of a gold mine over the last decade, prior to the credit crunch, although those who failed to climb aboard in the early stages of the boom time have been left behind.

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