Young buyers face a tough challenge to get on the property ladder. Rents are at record highs and to save a 10% deposit for a first home, young buyers must save from the age of 21 for the next 13 years based on the average house price of £285,000, according to stockbroker Interactive Investor.
First-time buyers may be tempted to skip the wait or preserve the small savings they’ve managed to put away by choosing a 100% mortgage instead.
