UK Money News
17th June 2008
Graduates 'face 7-year wait to buy first home'
Graduates have been warned that they are facing a long wait before they can afford to take their first step onto the property ladder.
Research conducted by Endsleigh Financial Independent Tailoring found that the majority of students currently in full time education expect to be able to afford a property within five years of graduating.
However, in fact the timeframe needed to raise the average deposit is seven years for a home worth £190,000, the company has calculated.
James Crocker, an independent financial adviser at the firm, told the Press Association: "It seems highly unrealistic that a graduate with approximately £15,000 of debt will be able to save anywhere near enough for a deposit to buy a house within five years in the current mortgage market.
"A graduate on a salary of £19,000 would have a maximum of £126 per month left over after living expenses, rent, student loan repayments, utility bills and pension payments to save for a deposit on a house.
"This is before we start talking about taking a holiday or two during the year."
back to June's Money News
This article and more Latest Money News can be found on MoneyCrocodile.co.uk
Personal Loans from UKPersonalLoans.com
Personal Secured Loans for Homeowners and Personal Tenant Loans for Non-Homeowners. You can apply online for an Any Purpose Loan or Personal Debt Consolidation Loans or use one of our Loan Calculators.
Debt Advice from ReduceDebt.com
Debt problems? Refused a loan? Got CCJ's or Arrears? Get the best advice and help by enquiring online. Our Debt Professionals will help you whatever debt problems you have. Some of the options available to you are Debt Management, Debt Consolidation, Debt Couselling and IVAs,
UK Personal Finance from MoneyCrocodile.co.uk
UK Online Personal Finance site covering: Loans, Mortgages, Credit Cards, Insurance, Debt Advice, Bankings and Savings, Finance Tools and Money Jargon. We also cover Any Purpose Loans, Secured Loans, Personal Loans, Tenant Loans, Car Loans and Debt Consolidation Loans. If you are looking for Personal Finance let Money Crocodile put a smile on your face.
Car Loans from GBCarLoans.com
Don't just accept the dealers finance - get a quote from us before you buy!. UK Car Loans for New Cars or Used Cars: Supermini, Small, Hatchback, Saloon, Estate, MPV, 4x4, Sports, Luxury, Executive, Cabriolet or Classic Car.
Tenant Loans from TenantLoan.com
If you're looking for a low cost tenant loan, then look no further. We aim to find you a highly competitive interest rate and you can borrow anything from £5,000 and £250,000 with up to 25 years to pay.
