Mort­gage bar­rier to first-time buy­ers

Yorkshire Post - Property - - PROPERTY -

The num­ber of 90 per cent loan to value mort­gages avail­able have fallen from 245,000 in 2006 to 28,000 in 2009, ac­cord­ing to the Bar­rier to Home Own­er­ship Re­port.

The re­port, pro­duced in con­junc­tion with Pro­fes­sor Steve Wil­cox, chair of the Cen­tre for Hous­ing Pol­icy at the Uni­ver­sity of York, says the lend­ing pol­icy has hit first-time buy­ers hard.

Steve Wil­cox says: “With­out some in­no­va­tion in poli­cies or prod­ucts, the ‘wealth bar­rier’ to ac­cess­ing home own­er­ship is set to be­come just as im­por­tant as the in­come bar­rier has been in the past.”

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