This week’s comments are in response to: Natwest chair FTB comments ‘couldn’t be further from the truth’, brokers say
disqus_8fOMMy2pIO said: “Davies should take a leaf out of David Packard’s (of HP fame) vision of MBWA – management by wandering around. Speak with your own staff and ask them how easy it was for them to buy – and not with any discount help from their employer.
“The twin problems of student loans and rent hitting new highs throughout the year are serious impairments for being able to break through affordability barriers.
“However, it can be achieved – I have a first-time buyer who avoided university and accrued debt, went to be an engineering apprentice and has lived at home. Has no massive car loan, has saved £50,000 deposit for a 70 per cent loan to value (LTV) property, and focused on the target throughout.”
Arron added: “I agree with Sir Howard. Most first-time buyers can get on the housing ladder, but they need to compromise, which is a quality lacking in many.
“For example: 1) Avoid new builds just because they do not require any work. 2) And consider properties that need tidying up. 3) While living in Central London is handy for socialising and commuting, perhaps consider commuting. 4) Instead of a brand-new car renewed every three years on a lease, buy a car and look after it. 5) If it is possible to live at home, do so and save up.”
Very deceptive disagreed, noting: “Commuting from where? I’m 20 miles outside London and two-bed flats start at £350,000 in the cheap area. That’s a huge income needed from a single person, let alone the issue of scraping together the deposit.
“Plus, the reliance of needing a car increases dramatically in the Home Counties whether commuting to London or not.”
The comments here are from our readers and do not necessarily reflect the views of Mortgage Solutions and Specialist Lending Solutions.
