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Will the young of today ever climb onto the property ladder?

While on the face of it there would seem to be an increase in competition within the UK mortgage market there is also no doubt that first-time buyers are still significantly handicapped when applying for mortgage funding. Despite promises to the contrary, the amount of money required as a deposit on any property purchase is now well in excess of 20% and has increased significantly over the last few months.

When you take into account the fact that the UK property market is likely to prosper in the medium to longer term, if many people are not able to climb aboard the property ladder at this point of the cycle then what hope have they got for the future?

The increase in housing associations has led to an increase in those acquiring a part share in a property but ultimately these people will struggle to increase their shareholding and in the meantime the more buyers of this nature the more demand for property, which will eventually mean prices moving higher. This is a very difficult scenario for the UK government, mortgage providers and younger people in the UK looking to buy property because on the surface there is no easy solution.

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