Banks and mortgage lenders are causing a major obstacle for first-time buyers.This is the opinion of Helen Adams, managing director of FirstRungNow.com, who sympathised with people trying to save up enough money to buy their first home.She stated the current financial climate means it is very difficult for people seeking a mortgage to gather together the huge amount of financial resources now required for a deposit.It is a "serious problem" that prevents many people from getting on the property ladder and the situation is unlikely to change in the near future, said Ms Adams, who believes people will be reliant on donations from friends and family to reach the total required for a deposit by current mortgage schemes.She was speaking after a first direct report confirmed that the amount needed for a housing deposit has increased tenfold over the last 20 years as house prices soared to 6.3 times the average household income.The report stated that during this time the average income has only doubled.Charles BakerCharles is a reputed financial analyst with decades of experience under his belt.
Belmont Thornton Ltd. is regulated by the Ministry of Justice in respect of regulated claims management activities; our registration is recorded on the website www.claimsregulation.gov.uk number 18273
Belmont Thornton Ltd. is incorporated in England and Wales, Company number 6621233, whose head office and registered office is at Suite 2, Unit 25, The Coda Centre, Munster Road, London, SW6 6AW. VAT Registration number 945 3375 06.
Belmont Thornton Ltd is registered with the Information Commissioners Office to ensure compliance with the Data Protection Act 1998 registration number Z1728023 and holds a Credit Consumer License issued by the Office of Fair Trading license number 634655.
Please note that calls may be recorded and email traffic monitored for the purposes of security and staff training.
* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.