10th September 2011

First-time buyers have to save £26,000 for a deposit

Getting on the property ladder for first time buyers used to be a natural step in a young professionals life. This step no longer comes with ease. 


Today, the typical first-time buyer has to save £26,346 to get a mortgage. This is a 20% deposit of the value of their home according to the Council of Mortgage Lenders.  


In previous years a deposit of 10 per cent was required to secure your place on the property market. 


Is it time to face facts and realise England is soon to become a nation of renters?

 

With the amount of time that needs to be put aside to save for a deposit, landlords need to be prepared for longer term lets alongside the prospect of more and more families opting or forced to rent. 



Contact us

94 Roding Road
Loughton
Essex
IG10 3EF

t: 020 8502 3609
f: 020 8502 3680

Office hours

Monday to Friday - 9:00am to 6:00pm
Saturday - 9:00am to 1:00pm
Sunday - closed

(Out of office hours appointments are available by prior arrangement)

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A once in a lifetime opportunity to earn big money from your property. You could pay for a new kitchen, a great holiday, or a year's university fees. Rental values during next year's games are likely to be 4 times the normal rate for most properties. We at Martin & Co have geared ourselves up with all the relevant information, documents and processes required to help you achieve the potential from this opportunity. We have the marketing means to reach the world's athletes, their families and sports fans in general looking for accomodation next July-September.


If you would like more information on how you can send your teenager to University free for a year, or go on that holiday you've always wanted, contact Martin & Co Loughton for a free property appraisal and a friendly chat on how to go about letting your property out during the Games. If you know anyone else who may be interested in doing the same we will reward any recommendations from our existing landlords with £50 of M&S vouchers.


On your marks, get set, GO! Don't be left standing in the blocks!!!



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