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Mortgages 'should not be accessible for everyone'

Ylr-news-800575161

Posted by Mark Cunningham

Prospective homeowners struggling to put together a sufficient deposit for their first residential property should not feel too dejected if they find doing so impossible.

That is the suggestion of Catherine Hearnden, director at My Mortgage Direct, who has said that accessing the home loan market should not be viable for the whole population.

Ms Hearnden explained that "not everyone should be able to afford to own their own home because it is not right for everyone", as there will always be a certain proportion of Britons who are not in a sufficiently healthy situation with money to gain a mortgage.

Research published by Citizen's Advice recently (June 6th) showed that the number of under-25s asking for help with housing problems has risen by 14 per cent annually in 2011.

The expert insisted that people must stop considering owning their home as a "right", as residents in other nations rightly perceive it as an "aspiration".
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10/06/2011 15:24

News category: Property

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