A survey of Brits aged 18 to 30 years old has revealed
that 78% of this age group do not believe they will ever be in a position to
own their own home. The main stumbling blocks are the deposit, earnings and
credit history. British adults have an average of £6,700 saved up for their
deposit. Considering the average house price stood at £225,021 in December this
average savings amount is less than 5% – the minimum deposit percentage for
most first-time buyer mortgages – of what could be required. It's therefore
understandable that 78% of those who don't believe they'll ever own their own
home said it was because they could never save enough for a deposit. Read more
on the moneyfacts website.
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