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Borrowers living in poor quality housing

  • 04/11/2002
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The UK Housing Review 2002/03, published by the Council of Mortgage Lenders (CML) in association wit...

The UK Housing Review 2002/03, published by the Council of Mortgage Lenders (CML) in association with the Chartered Institute of Housing and The Joseph Rowntree Foundation, has revealed almost half of all unfit houses in England are owner-occupied.

Bernard Clarke, communications manager of the CML, said: ‘There is a significant amount of poverty among homeowners and that reflects itself in the quality of housing stock. There is a high level of disrepair in the owner-occupied sector.’

The report also shows home-ownership among ethnic minorities is significantly lower than for the white population.

Almost 70% of white people are owner-occupiers, which is comparable to the figures for the Pakistani and Bangladeshi community at 67%. However, levels of ownership among all ethnic minorities are lower at 52%.

Deposits required by first-time buyers have risen as lenders are taking a more cautious approach with such borrowers. In London the average deposit required by a first-time buyer rose to just over £31,000 in 2001.

However, earnings among first-time buyers have also risen by 43% since 1996 to £28,300 in 2001. The report suggested employers seeking to recruit key workers in property hot spots could offer interest-free loans towards the deposit needed to buy a home.


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